Just to be legal (in CA), you need write to the tenant that you're cancelling the card, and give them the new method of payment in advance.

If so how and is it legal?

The homeowner has the legal right to negotiate on their own behalf.

In turn (if it's at all legal for me to assume a modified loan, I will rent it out at the rates listed above.Regarding the back taxes the bank has paid her back taxes I believe 2 years ago as the home was in risk of going to "tax sale" (I've already verified this on the Los Angeles County Property Assessor website).

J Scott - apparently Stephen Masek is a recognized expert in this area; see this link that appears near top of Google search results:http://www.nachi.org/forum/f21/asbestos-still-legal-dates-bans-12239/

also while the bid is going are you legally aloud to visit the property from the outside and peak in the windows?

This will cause them to take your complaints more seriously because the next step after that is legal action in court.

F I N A L N O T I C E O F D E F A U L TDate:Sunday, May 20, 2xxxWe have been retained on behalf of the lender to take immediate legal action against you.

It might cost you less to hire an attorney at say $300 per hour than to pay somebody a 3% or so commission - and you would have legal advice as well ...

I've factored in Taxes, Insurance, Cleaning, Snow/Lawn, Turn over.Your expenses are missing a few things: Maintenance, Vacancy, Capital Expenditures, Utilities During Vacancy, Legal/Accounting, etc.