I do these transaction also, but before i do, i make the seller very aware of ALL of their options, (Foreclosure, Shortsale, BK, Modification, (some of these are not options, i know) hopefully you get the picture.

Be aware that 50% of modifications re-default.

I strictly forbid them from any self-repairs or permanent modifications to the property too in my lease.

Funds are paid, representations and agreements are signed and the note is assigned with an endorsement and filed.Usually a buyer will ask for a package of documents, I'd want to see;Copy of the note and deed of trust, Commercial deal, a copy of the settlement for the transactionA list of inventory collateralized and copies of the UCC filingsA copy of the first lien as filed with terms and payment requiredPayment history of the note, with verification of receipt/depositsCopies of any loan modifications or extensionsAppraisal on the property at sale on RE and equipment if anyA letter simply desiring the intent to sell with a description of the note with the book and page county as filed.

The condo is in FC with sale date of March 20th 2014.150k loan + 28K in arrears with bank + @ 4 K in arrears with HOA.The condo is worth @ 50K -55KThe bank will do a in house modification to extand the loan and maybe fixe the interest rate to 3 or 4 %.What are your recommendations?!

You can not force a borrower to agree to an unfavorable modification.

Usually they are only concerned with exterior modifications, but depending on the property, there may be interior restrictions as well.Some examples of historic requirements that drove up the cost of the porch project.1.

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Would ARV still be the right term to describe it after I have made some modifications to the units?

When you fax a complaint to a loan modification manager and in less than 24 hrs the foreclosure sale stopped with no notification to the homeowner....And the sale isn't rescheduled for next week...Like they never attempted to try to foreclose...wonder if it's because my case is so documented...I offered to file suit against WachoviaWells FargoCitiHomeqAmeriquest a bankruptcy attya bankruptcy trustee...its a shame...I believed in this business for so long!