InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Annual Reunion Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Subject to Exsisting... BANKRUPTCY???!! Posted by Dawn on May 31, 2009 at 8:14 AM In Reply to: Subject to Exsisting... BANKRUPTCY???!! posted by What the?? on May 30, 2009 at 7:13 PM You will probably lose your interest in the property since more than likely the bank will stand on the fact that they can accelerate the loan upon transfer. A loan mod would probably only be possible if you deed the home back to the folks that deeded it to you. Good Luck!: I took a house Subject to Exsisting Loans a couple of years ago. : Ive been making payments on time plaplapla. I get word of a NTS on this property calling loan due in full.. I have previous owner call the bank and they said... its the bankrupcy your wife filed!(she also was on original loan). Strangly this loan was also in a open modification process and bank said it does currently qualify for new Obamamod. bringing payment down to a rediculosly low amount, It seems they dont even know that the title changed hands.. that or they do and arent saying anything. Does anyone here have any idea if Lender will accept a mod which will allow me to be on new mod docs as current title holder? Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : You will probably lose your interest in the property since more than likely the bank will stand on the fact that they can accelerate the loan upon transfer. A loan mod would probably only be possible if you deed the home back to the folks that deeded it to you. Good Luck!: I took a house Subject to Exsisting Loans a couple of years ago. : : Ive been making payments on time plaplapla. I get word of a NTS on this property calling loan due in full.. I have previous owner call the bank and they said... its the bankrupcy your wife filed!(she also was on original loan). Strangly this loan was also in a open modification process and bank said it does currently qualify for new Obamamod. bringing payment down to a rediculosly low amount, It seems they dont even know that the title changed hands.. that or they do and arent saying anything. Does anyone here have any idea if Lender will accept a mod which will allow me to be on new mod docs as current title holder? [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-date("Y"), InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455