Assuming rent is not extraordinary like +35% income, (casually ask if their employment situation is unchanged from what is on their application) the court will restructure other debt based, at least partially, on whats left after paying for necessities like housing, food, student loans, clothing and transportation for employment.  

As Dion mentioned, stripping a note, buying a number of payments or say just a future balloon payment can be done without security issues if you are a broker in the business, it's done by buying participations with the holder rather than peeling off amounts to investors, this is a normal banking and finance function in brokerages.There would be no sense in buying any note that you could not negotiate the terms of, restructure or refinance, you'd be a lame duck, so get the appropriate licenses.

I am representing a group of investors and we are looking for a major restructure of our lending portfolio.

If not, I have time to screen for tenants i want, rather than need.Should I end up RENTING, I would like to certainly restructure my LOC to either a 5/2 ARM or a 20yr amortized rate, and pull my remaining equity from the home up to 75% of the ARV, which looks to be about 15k.

How do you know what to do, for example, for converting something into a master bedroom, or remove walls in a certain area, or any other type of restructuring or remodeling project where real estate is altered to fit a new purpose or design?

My second approach would be to try and restructure the note to something that would work for your situation.

(“At the moment our industry is restructuring today’s real estate firm –so my message in introduction is to capture even the value conscious consumer ...to offer cross-purchasing benefits; what coupons, discounts, shopper clubs and point programs are you looking for?”)

Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualify for this relief.This provision applies to debt forgiven in calendar years 2007 through 2012.

I'd try to restructure things so that the $2.5M is coming from a solo 401k or solo IRA so you can take advantage of tax benefits.

Even with the current loosening and restructuring of existing mortgages, banks are going to scrutinize transactions to make a profit as well.