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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] CA Pre-Foreclosure Questions Posted by George on January 01, 2002 at 8:58 AM 1. I want to buy a pre-foreclosure ‘subject to’ the existing financing in default. 2. Want to assume the loan and cure the default/reinstate the loan but don’t want to notify the lender to avoid the acceleration clause. 3. Then I plan on getting an HELOC 2nd to pay seller for some equity and rehab costs. Questions: 1. Do lenders, either for a 2nd TD or HELOC, have any issues with having/seeing/learning of one individual showing on title, me, and another person on the existing first mortgage that was in default? Going behind a 1st TD in someone else's name? 2. Can you get the HELOC if the first is currently in default? Will they payoff the default amount as a condition to funding? 3. What about lender seeing the first on title but not on my credit report? Much appreciated… Thank you! Follow Ups: Re: Answers Ward-CA- 2:27 PM, 01/01/02 (1) Re: Answers 1, 2, & 3 George 3:28 PM, 01/01/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : 1. I want to buy a pre-foreclosure ‘subject to’ the existing financing in default. : 2. Want to assume the loan and cure the default/reinstate the loan but don’t want to notify the lender to avoid the acceleration clause. : 3. Then I plan on getting an HELOC 2nd to pay seller for some equity and rehab costs. : : Questions: : 1. Do lenders, either for a 2nd TD or HELOC, have any issues with having/seeing/learning of one individual showing on title, me, and another person on the existing first mortgage that was in default? Going behind a 1st TD in someone else's name? : 2. Can you get the HELOC if the first is currently in default? Will they payoff the default amount as a condition to funding? : 3. What about lender seeing the first on title but not on my credit report? : Much appreciated… Thank you! Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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