Example: Property is already in foreclosure because of delinquency. Question: Do the investors here get a letter or confirmation from a lender stating the lender will accept the makeup of arrears payments and acknowledging the lender will? Or do the investors here just send in the arrears?
Investors,
What is your preferred method in regards to my last posted reply? Maybe this is more of a question of business practice and am curious to see what people are doing.
Has anyone found a practical difference between a Mortgage and a Deed of Trust with respect to how to cure the delinquency? I was in a RE class the other day and was told that a mortgage must be paid in full, while a deed of trust just had to be brought current.
A lender would be hard-pressed to convince a judge to allow a foreclosure if payments are not delinquent.
[addsig]
Example: Property is already in foreclosure because of delinquency. Question: Do the investors here get a letter or confirmation from a lender stating the lender will accept the makeup of arrears payments and acknowledging the lender will? Or do the investors here just send in the arrears?
Investors,
What is your preferred method in regards to my last posted reply? Maybe this is more of a question of business practice and am curious to see what people are doing.
Any further comments out there?
Related topic:
Has anyone found a practical difference between a Mortgage and a Deed of Trust with respect to how to cure the delinquency? I was in a RE class the other day and was told that a mortgage must be paid in full, while a deed of trust just had to be brought current.
Thanks, Ben
The only thing is that you have to sell using wrap. Do not do CFD in Texas