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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Junior bene lost original promissory note... Posted by Alfred, Trainee on March 06, 2002 at 4:11 AM Ward, Have a junior bene who wants to sell his note to me but he can't find his prom note. I know per your manual that one gets a notarized statement from bene to that effect. But, to at least have the specific details about the note, shouldn't one ask the trustor to either... 1) get a copy of the note from the escrow company that handled the house sale? 2) if that fails, bene can request a copy from the trustor? Also, what I noticed in trying to sell my note is that all prospective note buyers want the original prom note. It seems to me that not having it could kill any sale possibilities that I would have if the trustor went Chap 13 and I wanted to sell the note. In other words I may get stuck with a note that I definitely do not want to keep. Keeping that in mind, and with the idea of minimizing risk... although painful, I'm thinking maybe I should just pass on deals where the original note is missing. What do you say to that? Follow Ups: All I've got to say is .... Ward-CA- 6:18 AM, 03/07/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : Have a junior bene who wants to sell his note to me but he can't find his prom note. I know per your manual that one gets a notarized statement from bene to that effect. But, to at least have the specific details about the note, shouldn't one ask the trustor to either... : 1) get a copy of the note from the escrow company that handled the house sale? : 2) if that fails, bene can request a copy from the trustor? : Also, what I noticed in trying to sell my note is that all prospective note buyers want the original prom note. It seems to me that not having it could kill any sale possibilities that I would have if the trustor went Chap 13 and I wanted to sell the note. In other words I may get stuck with a note that I definitely do not want to keep. Keeping that in mind, and with the idea of minimizing risk... although painful, I'm thinking maybe I should just pass on deals where the original note is missing. What do you say to that? 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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