The process was pretty typical for loans I've done in the past, except I was actually asked to provide a Profit & Loss statement for the current year to date.  

Include the exact dates payments are due and the amounts due on those dates.

You have the right to learn of the nature of the information if you ask me in writing within 60 days of the date of this notice.

The home is not "Historic" which would have been a benefit (because in Jersey there are programs to assist funding you with keeping the property up to date), but rather mine is in a historic district.  

If the expiration date for this Optional Coverage shown in the Declarations is not extended, the Additional Condition, Coinsurance, is reinstated and this Optional Coverage expires.c.

Of recent date I've found that most appraisals come in very conservative and usually under my expectations.

Other misc maintenance I can do myself.I'm counting putting 10% net income into a reserve account ($1,500/year) 2012 property taxes: $1,370.82Total cash outlay: $16,225 + $3,000 = $19,22515 year mortgage at 4.5%Estimate closing costs $3,000 Total Monthly Payment: $561.60 (including taxes & insurance) Last Sale date: October, 1996: $61,900County Value Details Improvement Value Appraised $49,400 taxable $17,290 Land Value Appraised $12,300 taxable $4,310 Total Value Appraised $61700 taxable $21,600 My Thoughts I am assuming a 94% occupancy rate of both units.Rents are average for the area.

Write out a simple letter saying that if they leave by X date (and no later!)

This is a tough time to make decisions so don't be hasty.When you inherit the basis for the property is the value at date of death you should get an appraisal to determine and document what that value is.

I am currently suing them in Federal Court and I have also kept Scott A up to date on this as we are both trying to go after these guys.