Modification usually involves some form of capitalization of the arrearage, plus, perhaps, a forgiveness of some of the arrearage.

The issue is the City of Tacoma.The way the house is currently zoned, it isn't eligable for the detached ADU modifications in the garage. 

I would wait to make any repairs or modifications until he moves out.

That'd be a principle deferral modification, not a reduction.

Someone needs to catch up the payments or one of the heirs can attempt to get a loan modification.

I received a modification to my original offer on my first deal stating that the current security deposits would need to be transferred to the buyer’s (my) designated holder that “shall be a licensed Georgia real estate broker.”

No modification is needed to the operating agreement and as long as you are calling for capital pro-rata from the investors their ownership percentages stay the same relative to one another.Having explained all that, if it were me I wouldn't do it. 

By work out costs, do you mean fees paid to the servicer to negotiate modifications or other terms in the scenario of non-payment, default, or other adverse situation?

Maybe what they meant to convey was that the current owner cannot make modifications to the building without changing over to the new use zoning .

Hundreds of holes in the wall, filthy carpet, leaking roof and number of different kind of modifications on flooring.