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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Trustee won't accept money to cure default So Cal Posted by Rick, the Probate Guy on April 07, 2008 at 4:05 PM In Reply to: Trustee won't accept money to cure default So Cal posted by Mike on April 07, 2008 at 12:16 AM Just because the lender won't do what you want them to do doesn't make them a predator. No doubt that you've been through some kind of a mill while trying to restructure your loan. This implies that there was some kind of issue (default, etc.) that was a catalyst for the restructuring of the senior loan. The junior lender has no obligation to wade through your documentation in order to extract the pertinent info and determine that your loan is now, in fact, considered current. It may also prove more problematic if the junior lender interprets your freshly restructured first mortgage to be adversarial to their junior position. This is quite possible if the terms were modified without written consent of the junior loan beneficiary. So, while this may not turn out as the horror story that it could, you would do well to approach the second mortgage holder with hat-in-hand, explain what you want in pleasant terms, and remember that they may hold cards that you don't want them to play. Also, don't call them when you'll emotions are running high; wait until another time when you can just be detached and as business-like as possible. Follow Ups: Well said Rick Tom 9:09 AM, 04/08/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Just because the lender won't do what you want them to do doesn't make them a predator. : No doubt that you've been through some kind of a mill while trying to restructure your loan. This implies that there was some kind of issue (default, etc.) that was a catalyst for the restructuring of the senior loan. The junior lender has no obligation to wade through your documentation in order to extract the pertinent info and determine that your loan is now, in fact, considered current. : It may also prove more problematic if the junior lender interprets your freshly restructured first mortgage to be adversarial to their junior position. This is quite possible if the terms were modified without written consent of the junior loan beneficiary. : So, while this may not turn out as the horror story that it could, you would do well to approach the second mortgage holder with hat-in-hand, explain what you want in pleasant terms, and remember that they may hold cards that you don't want them to play. Also, don't call them when you'll emotions are running high; wait until another time when you can just be detached and as business-like as possible. [ 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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