Last July, actually just about exactly a year ago, I had a roof leak.Apparently the tar joint on the high side of my swamp cooler cracked and permitted the water to enter.

Wile digging through the document, I saw that it clearly spells out "If a mortgaged property has been or is about to be conveyed by the mortgagor and the master servicer has knowledge thereof, the master servicer will accelerate the maturity of the mortgage loan, to the extent permitted by the terms of the related mortgage note and applicable law."

What's missing: permits must be closed, and all building code inspections must first pass of course.

I have seen Predatory Lending where the term is shorter that the work to be done with permits and financing factored in, which allows for lofty loan extensions.

The county will reissue permits by simply paying the permit fees.

When the rest of the country was hurting horribly from the crash, City of Bakersfield was issuing building permits for new shopping centers. 

Here we are not permitted to solicit nor accept rent in advance of the next rental period.  

Basically, an unpermitted apartment has been created under the permitted space, within the footprint of the old house.

Did the Contractor pull permits at the Building Department for the work done to date?

You will generally find that almost everywhere, including unincorporated counties that house urban cities, rooming houses or border loging is specifically prohibited OR includes specific permit regulations like obtaining a Conditional Use Permit.