I agree they are charging interest on something they never owned or possessed.

Bringing the monthly payment down to ~$1650-$1700No plan to currently sell for at least the next 3-5 years, since my brother and father will be residing here.Property 3:Single Family Home (Snellville, GA 30078)Given to me by my father after my mother passed (Legally have not taken possession)Anticipated Rent $1500-$1700/MonthPurchased June 1995 for $100KCurrent Equity 100%Current Comps $150,000 to $180,000Anticipated Repairs $20,000 (Should be repaired by end of April)HOA $0My Questions:I know there is a capital gains exemption (250K or less if you're single, which I currently would be classified as) if you live in a property for two years.

I'm wondering the best approach to take possession of the property.

Even if the lender is required to "possess" (Not the same as "produce") the original note, don't count on them losing it as a "Get a home for free" card.

Also, would it be easier to get refinancing since the house is already under possession?

I received a writ of possession a few weeks ago and the Marshall. was scheduled for Thursday of this week.

Tell the Judge the suit is for $XXX and possession of the property. 

We stipulated in Lease that Monies were NON-REFUNDABLE after Tenant took possession, except for "Acts Of God" (Hurricane, Tornadoes, Floods, etc) that might make the property uninhabitable.  

This is definitely discussed at the beginning, prior to them taking possession of the property.Happy InvestingDerek Dombeck

Account ClosedNice to see you participating in the forums ... and the small step forward of dropping one of your frequent {stuffed} keywords from your post.The handling of a squatter vs a tenant will undoubtedly differ with jurisdictions, so the ultimate advice is to consult your legal counsel on the matter.The crucial distinction - at least here - that that a squatter had no legal right to be at the premises and is essentially in trespass / illegal possession of the property.