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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Loan mod? Doubtful...- misunderstanding Posted by Melody on April 14, 2009 at 1:00 PM In Reply to: Loan mod? Doubtful... posted by Rick, the Probate Guy on April 14, 2009 at 12:33 AM : Lenders generally won't modify loans for the benefit of non-trustors unless formal assumption occurs, and that's rare. Couple that with the fact that the original trustor is deceased and it leads me to the conclusion that it's unlikely that your young cousin, the decedent's Brother, will really be able to obtain a loan modification. I wish him well, but there are too many legal hurdles to get past for that plan to work. : There are other work-arounds. Hope this works out well for he and the family. The younger cousin did NOT file for loan modification. We think the deceased brother did - I was offering that as a reason for the property not being sold already. I am just wondering if the younger brother was QC deeded the property - do the financial obligations now fall on his shoulders? Follow Ups: Nope Rick the Probate Guy 2:45 PM, 04/14/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Lenders generally won't modify loans for the benefit of non-trustors unless formal assumption occurs, and that's rare. Couple that with the fact that the original trustor is deceased and it leads me to the conclusion that it's unlikely that your young cousin, the decedent's Brother, will really be able to obtain a loan modification. I wish him well, but there are too many legal hurdles to get past for that plan to work. : : There are other work-arounds. Hope this works out well for he and the family. : The younger cousin did NOT file for loan modification. We think the deceased brother did - I was offering that as a reason for the property not being sold already. : I am just wondering if the younger brother was QC deeded the property - do the financial obligations now fall on his shoulders? [ 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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