At least 10% of all mortgages are either in default or forbearance with lenders on the hook for $5.5B/month+ in mortgages they aren’t getting paid for and can’t foreclose on with no relief from the Fed in sight.

Thus, it would make sense to me that roughs were NOT necessarily, by default required.

I looked at this situation and said YUP first payment default..

OR try to get him to do a short sale if he can prove they have no money and are in default.. but if the loan is current thenits just one of those deals that will turn into a zombie house.. 

You “incorporate” as a corporation and are taxed as a C Corp by default.  

By default should be in a good location. 

It was a combination of excess supply and high default rates that caused the housing crash.The housing crash resulted in developers and builders going bankrupt or scaling back operations.

I ask because I was on propstream and it said their property was default on the mortgage.

The lender is on the hook for any defaults, and considering COVID, and other market related issues, most lenders are not willing to take the risk. 

Many lenders don't allow junior position leins because they cannot take a Deed in lieu of foreclosure in the event of a default.