I was released for the remainder of the balance sue to a short sale value so it actually never hit my credit,  fast worked to now almost 10 years later.I am in the market to buy a home again, my credit is fine and has been but one of the banks I am seeking to get approved with told my I came up on a fraud check as having a foreclosure on my report, whatever report that is idk, they were perplexed as well since it wants on my credit.  

Now, we’re moving all owners to the same payout policy: payments will be released 48 hours after the guest checks in (look for funds in your bank account in 3-5 days).

Tell them specifically why you want to be released from the contract. 

I will prepare a simple loan agreement (and release) that I can record, once they sell the house, I get proceeds at closing.

IRS liens can be released from a property and that debt stays with the homeowners.

They return the home in the same or better condition than it was received;If they meet this criteria, you will inspect on February 1st and issue a full refund of their deposit and release them from any further obligation.

Like has been said,  set stricter qualifications,  have longer times to re lease.  

There is a 5 year occupancy mandate, I just sold my clients condo that he acquired with NACA and after occupying for 5 years they released the lien with no problem.

The certificate was issued to the lender first and HOA second.Lender and HOA argue back and forth for a few months over ownership of the property and eventually sign an agreement whereby the lender would pay $15,000 to the HOA for past-due assessments and the HOA would release its title claim via quitclaim deed or some other instrument. 

Its likely they won't release the funds for the repair work.