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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: No/Yes/No - Prepayment penalty on 1st? (NT) Posted by Mark Hamilton on April 26, 2008 at 11:36 AM In Reply to: Re: No/Yes/No - Prepayment penalty on 1st? (NT) posted by Tom on April 26, 2008 at 11:22 AM : The note would state if there is a pre-payment penalty. There shouldn't be a pre-payment penalty on a note that old, but it is a private note so anything is possible. I'd contact the holders of the note and see if they're agreeable to what you want to do, and get a payoff amount as the date of the scheduled foreclosure. Get detailed payoff - P, I, and any late penalties or fees. Is there any forced place insurance in effect? I have not seen any notice that would suggest forced place insurance is in effect, however, I am not sure how that would be reflected in the recording documents. The file is quite large, the owners having had many IRS and State tax liens, judgements, etc. Most have been satisfied, other than a major group of IRS liens that were issued after the first and second deeds of trust. Also, it is possible that the first was paid off sometime ago (it was 50K) but it was never released. Follow Ups: A big, black box... Rick, the Probate Guy 5:00 PM, 04/26/08 (3) You can get a copy of the Note from title CC in OC 4:52 AM, 05/20/08 (0) hml prepays hard money lender 10:38 PM, 04/26/08 (0) Re: A big, black box... Mark H. 8:04 PM, 04/26/08 (0) FPI & IRS Tom 12:18 AM, 04/26/08 (2) Re: FPI & IRS Mark Hamilton 8:00 PM, 04/26/08 (1) Should be (NT) Tom 8:00 AM, 05/01/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : The note would state if there is a pre-payment penalty. There shouldn't be a pre-payment penalty on a note that old, but it is a private note so anything is possible. I'd contact the holders of the note and see if they're agreeable to what you want to do, and get a payoff amount as the date of the scheduled foreclosure. Get detailed payoff - P, I, and any late penalties or fees. Is there any forced place insurance in effect? : I have not seen any notice that would suggest forced place insurance is in effect, however, I am not sure how that would be reflected in the recording documents. The file is quite large, the owners having had many IRS and State tax liens, judgements, etc. Most have been satisfied, other than a major group of IRS liens that were issued after the first and second deeds of trust. Also, it is possible that the first was paid off sometime ago (it was 50K) but it was never released. [ 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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