I wonder if your $500 processing fee was originally written into the mortgage or not or if that's bank policy for your particular mortgage holder.

Just because you are underwater the Note holder doesn't call in the excess, or start charging PMI because the ltv may have dropped...

Basically what I'm saying is agents will tend to shy away from working with you before property holders will in my experience.

That way, if I had to pay the balance off quickly, I can and I like knowing that I am a majority holder, not the bank.I live entirely off my passive income and have the freedoms that wage earners do not generally enjoy.

They do pay more to their agents which is why the average agent income is higher (also in large part because the fees are lower) but they do not pay it all to them as evidenced that eXp world holdings has a positive income for the company and it's stock holders. 

A good majority of SDIRA holders like to be passive and simply be private lenders with their retirement accounts.

Once the bank finds out that the new insurance policy is not in the mortgage holders name, won't they call the loan due?

They will, oddly, tell you the cost per term for that billing cycle and allow you to compute your own total cost.If a utility provider flat out refuses to share info you'll need to have the authorized account holder (typically the seller) make the inquiry on your behalf and then share that info with you which is a pretty common request.

There are more protections for certain holders of an interest, but not really for investor types buying or selling under those types of transactions.

If the owner, or other certificate holder pays the taxes, you get your interest.