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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Affect of Post-Balloon payments on note(s) Posted by jack mollin on April 16, 2008 at 12:16 AM In Reply to: Affect of Post-Balloon payments on note(s) posted by Rick, the Probate Guy on April 15, 2008 at 9:50 PM : I don't think that you'll find it. I think that, worse case, the beneficiary might have to re-notice the balloon (no less than 90 days or more than 150 days prior to date balloon is due). : Since you don't mention your position here, I would guess that you are hopeful extendee, not the lender-extendor. If I'm right, focus on the sufficiency of the noticing, rather than the subsequent acceptance of the money after due date. : I think that an argument that relies on your logic can be easily trampled on, as it is neither a modification of the underlying agreement (terms of note) or intended to jeopardize the benefit of the bargain of the cash lender, or purchase money lender. : Do you care to spell out your position better here, or were you just looking for free research? I took back properties in june 2007, city entitlements were needed before we can sell any of the 10 houses, 8 of the first TD holder agreed to modify the notes due date. 2 of the 1st TD holder did not but expected interest payments. The orginal note expired with a ballon payment April 2006. I brought all ten TD holders current throught June 2007 and am working to finish city offsite improvements so that houses can be sold. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I don't think that you'll find it. I think that, worse case, the beneficiary might have to re-notice the balloon (no less than 90 days or more than 150 days prior to date balloon is due). : : Since you don't mention your position here, I would guess that you are hopeful extendee, not the lender-extendor. If I'm right, focus on the sufficiency of the noticing, rather than the subsequent acceptance of the money after due date. : : I think that an argument that relies on your logic can be easily trampled on, as it is neither a modification of the underlying agreement (terms of note) or intended to jeopardize the benefit of the bargain of the cash lender, or purchase money lender. : : Do you care to spell out your position better here, or were you just looking for free research? : I took back properties in june 2007, city entitlements were needed before we can sell any of the 10 houses, 8 of the first TD holder agreed to modify the notes due date. 2 of the 1st TD holder did not but expected interest payments. The orginal note expired with a ballon payment April 2006. I brought all ten TD holders current throught June 2007 and am working to finish city offsite improvements so that houses can be sold. [ 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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