Then you file for bank levy or wage garnishment. 

They will do everything legal to get the money including wage garnishments and bank levies.

Take away the real mower it is a liability to let them do itGive them 5 days to get it done or you will get it done and levy it against the rent.

The lender has the right to do anything from calling the note due, levy fines, and/or in some extreme cases for blatant defrauders, they can prosecute.Hope that helps, TYFYS and best of luck!

The county that I am in has a Tax levy of 40 (per $1000).  

@Thomas Levy Congrats on your first purchase!

On a typical deal, we usually negotiate that seller is responsible for their mortgage balance and we (future buyer) is responsible for both sides title, escrow and our local state excise tax. 

Either: (1) withdraw the excess contribution along with allocable earnings; get hit with taxation and a 10% early withdraw penalty on the earnings (most likely), (2) re-characterize the contribution to a non-deductible Traditional IRA, file Form 8606 with your return, maybe do a back-door Roth soon after if you won't get dinged by the pro-rata rule...or...just leave it as is and track the basis you now have in your traditional IRA, not as big a deal as people make it out to be... (3) pay the excise tax and hope the over-contribution can be remedied over time through the absorption method. 

I want to become a full-time investor/ real estate agent, so I can quit my job, but I understand that will take time and knowledge first, which I am working on obtaining.We have enough for our down payment and have about 20k in Tesla stock we can levy for repairs on our first home.

@Cassi Justiz and @Levi Ballard thank you so much!