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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Junior lienholder's right of reinstatement and reimbursement Posted by Ward-CA- on April 23, 2002 at 6:47 PM In Reply to: Jr's right to charge posted by brian on April 23, 2002 at 8:38 AM : Ward, : Thanks for your insights. One more question, when a Jr reinstates a Sr TD, how are the terms of repayment set regarding interest rate and term? Can the jr require immediate payment? Do these provisions have to be spelled out in the jr TD or are they governed by law? : Thanks =•=•=•=•=•=•=•=•=•=•= Brian, Under the Theory of Advances a junior lienholder can reinstate a senior lien to protect her junior lien from being wiped off title by the foreclosing senior. Then she can insist on immediate reimbursement from the property owner under penalty of a foreclosure of the junior lien. The details concerning the junior lienholder’s Right of Reinstatement and reimbursement are covered in the trust deed’s boilerplate provisions. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Thanks for your insights. One more question, when a Jr reinstates a Sr TD, how are the terms of repayment set regarding interest rate and term? Can the jr require immediate payment? Do these provisions have to be spelled out in the jr TD or are they governed by law? : : Thanks : =•=•=•=•=•=•=•=•=•=•= : Brian, : Under the Theory of Advances a junior lienholder can reinstate a senior lien to protect her junior lien from being wiped off title by the foreclosing senior. Then she can insist on immediate reimbursement from the property owner under penalty of a foreclosure of the junior lien. : The details concerning the junior lienholder’s Right of Reinstatement and reimbursement are covered in the trust deed’s boilerplate provisions. 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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