He was my realtor, my project manager during the rehab stage, and handles my management on the backend.

MANY people that start the program don't get to the approval stage (not because they aren't qualified, but because they're too lazy to do all the work, attend all the meetings, submit all their paperwork, etc).The nice part about the program is that their default rate is about 1% last I heard. 

I also monitor stage of progress this way.

I'm still very much in the early stages of REI and trying to put in place scalable systems to manage this as it grows.

In such a case, any amount remaining once all debts and costs have been satisfied shall be returned to the mortgagor.Conversely, when the mortgagor has little to no equity in the property - particularly where the equity is less than the sum of all amounts owed, the court may shorten the redemption period and, at least in our experience on this end of the Country, enable the lender to take possession and sell the property at a price between what is owed and FMV.2a) When you reach the stage where the lender has filed a Statement of Claim, the note extended to the mortgagor has been accelerated and is due in full (principal, all accrued interest and any costs or penalties).   2b) During the redemption period the mortgagor has the right to redeem (buy back) the property.  

Also stage the home for potential renters just like you would a buyer:)   They think Almost the same way!    

And $20k cash for keys seems excessive!

So the newest loan would have the excess money on it the first month, then I would just go down the line every month paying the excess off only one mortgage each month. 

The perfect place for good info and people to help you.Best of luck on this new stage of your life!

Jon,We got all the way up to the appraisal stage, however we didn't move forward thereafter.