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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Not really. Posted by hard money lender on April 19, 2008 at 7:13 PM In Reply to: Not really. posted by CC in OC on April 19, 2008 at 6:58 PM yes, i did. i said that banks are not willing to spend that much time reading a trust. i also happened to add that they also dont understand them - most of their employees. that is not to say they know nothing about them, but they are nowhere near what i would refer to as someone who is knowledgeable about them. even their legal dept is not real knowledgeable. and i suspect that a bank's legal dept spends very little of their time, regarding trusts. so i will re-iterate - banks are not that knowledgeable about trusts. i have found credit unions to be much more knowledgeable about them, on the whole - which is why i suggested to someone to try their local one. today, just about everybody qualifies to get into some credit union, simply based upon them living in the area. i do not plan to get into any nit-pick arguments with you, like the ones you and jk were having. so let me re-iterate : 1)lenders, including banks and private lenders arent interested in reading long documents and taking risks to make loans, when they dont have to. 2) banks are not particularly knowledgeable about them, as a whole. in other words, most employees at the bank would need to go to their supervisor for most questions. and that supervisor may very well need to go to their legal dept, if it was not a very common type of situation. Follow Ups: Have it your way. CC in OC 12:20 AM, 04/20/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : yes, i did. : i said that banks are not willing to spend that much time reading a trust. : i also happened to add that they also dont understand them - most of their employees. : that is not to say they know nothing about them, but they are nowhere near what i would refer to as someone who is knowledgeable about them. : even their legal dept is not real knowledgeable. and i suspect that a bank's legal dept spends very little of their time, regarding trusts. : so i will re-iterate - banks are not that knowledgeable about trusts. : i have found credit unions to be much more knowledgeable about them, on the whole - which is why i suggested to someone to try their local one. : today, just about everybody qualifies to get into some credit union, simply based upon them living in the area. : i do not plan to get into any nit-pick arguments with you, like the ones you and jk were having. : so let me re-iterate : : 1)lenders, including banks and private lenders arent interested in reading long documents and taking risks to make loans, when they dont have to. : 2) banks are not particularly knowledgeable about them, as a whole. in other words, most employees at the bank would need to go to their supervisor for most questions. and that supervisor may very well need to go to their legal dept, if it was not a very common type of situation. [ 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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