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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] equity buyout confusion Posted by Rick on August 10, 2004 at 6:57 PM I have, what to me seems to be, a complicated situation. I sold my home to an equity buyer after receiving a NOD. I have signed over the deed, but have arranged to continue living in the house until I find another place to live. I owed $23,000.00 in back mortgage payments. In addition to the 1st mortgage, my ex wife held a 2nd (80,000) and my bank held a 3rd (50,000)which the new owners were intending to pay at the COE. Recently, both the 2nd and the 3rd were bought by seperate investors. This past weekend, I received from my mortgage company a statement indicating an $8,000.00 payment which, according to the mortgage company brings my account current. I have also received a Notice of Recission of NOD from the title company. The weird thing is - the new owners did not make the payments. My question is - could one of the investors who bought the 2nd and 3rd have made these mortgage payments? And if so, why? Also, will the new owners be adversly affected by this recent development? I am clueless in this arena and would like some help understanding what is going on. Thanks! Follow Ups: Possiblities kawikaCA 7:27 PM, 08/10/04 (2) Re: Possiblities Rick 8:52 PM, 08/10/04 (1) Re: Possiblities sathizfakshon 4:17 AM, 08/12/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I have, what to me seems to be, a complicated situation. : I sold my home to an equity buyer after receiving a NOD. : I have signed over the deed, but have arranged to continue : living in the house until I find another place to live. : I owed $23,000.00 in back mortgage payments. In addition : to the 1st mortgage, my ex wife held a 2nd (80,000) and my : bank held a 3rd (50,000)which the new owners were intending : to pay at the COE. Recently, both the 2nd and the 3rd were : bought by seperate investors. This past weekend, I received : from my mortgage company a statement indicating an $8,000.00 : payment which, according to the mortgage company brings my : account current. I have also received a Notice of Recission : of NOD from the title company. The weird thing is - the new : owners did not make the payments. My question is - could one : of the investors who bought the 2nd and 3rd have made these : mortgage payments? And if so, why? Also, will the new owners : be adversly affected by this recent development? I am clueless : in this arena and would like some help understanding what is : going on. Thanks! 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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