If that is correct, the next question: how do we figure when that arrear/fee balance will be paid off. 

We don't use it as the master anymore, but its still a very nice room.Putting in large windows isn't very difficult.

Im finding it difficult to get financing in our area.

So his deadline passed and he added back the amount onto our balance (which was zero).

I agreed that I would re-write his loan with a new buyer (balance about $85K) at the same rate.He's had a couple of very interested buyers, but nothing definite.

The lower balance is at 5.85% and flows about $100/month and the larger balance is a 6.375% and flows $300/month.

This is a difficult process.

In this article we will look more closely at all of the options available to a homeowner with a defaulted mortgage so that you will be able to present a balanced picture to your client and help them make the decisions that are in their best interest.

A prospective Lease-to Purchase was lined up to occupy the home and cover the mortgage payments in many variations of this scheme a portion of the kick back money was supposed to "protect the Investor" some of the bolder operators actually marketed this a a second chance opportunity for the cash rich and credit poor (People with income that was "difficult" to document) The rapidly appreciating markets allowed for substantial "equity spreads" the source of the "kick back money." i.e the FMV is 100K the seller has 45K into the property and would be happy with netting 18K profit, the change goes to paying all the closing costs and a gratuity to the buyer.

You'll be able to this a number of times before conventional financing gets difficult.