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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] should I give him a chance? Posted by Skimmer on June 15, 2009 at 2:25 PM Hi Ward, I purchased a house at trustee sale this month, and had a chance to talk to previous owner's attorney on phone. He said they are in the process in doing loan modification, and the bank verbally agreed to postpone the sale, but the trustee just went ahead and sold the house. He wanted me to give his client, the previous owner a chance to buy it back, since he just got a new job, he really wants to stay. I am ok with the plan to sell it back to him if he can buy it back at the current, or at least close to current market price. But I think I am just wasting my time, since he just got his house foreclosed upon, had a bad credit, of course no savings. How can he afford to get a loan to buy? I also think giving him a chance first may later involve legal issue if he can't get the loan, and he doesn't want to move. His attorney may use this as a reason to fight back for him. Am I correct? Or what do you suggest? Should I go ahead ask him to move out, if not eviction follows? or should I give him a chance? Thanks, Skimmer Follow Ups: Debt Resolution 101 - The First 10 Minutes of the Very First Class Tom 7:25 AM, 06/16/09 (2) good proverb on attorney, that is why they are hired Skimmer 9:36 AM, 06/16/09 (0) Re: Debt Resolution 101 - The First 10 Minutes of the Very First Class Lughead 9:28 AM, 06/16/09 (0) will do as what all pros agree to Skimmer 9:50 PM, 06/15/09 (0) Re: should I give him a chance? Lughead 9:06 PM, 06/15/09 (1) Wisdom spoken by a truly experienced investor! (NT) Rick, the Probate Guy 9:13 PM, 06/15/09 (0) Re: should I give him a chance? Rick, the Probate Guy 3:53 PM, 06/15/09 (2) dog atacking when people get close to face youngs family 12:20 AM, 01/08/10 (0) don't forget to give the poor dog a bone of his own Jill 9:16 PM, 06/19/09 (0) Is this post serious? It looks as if you've already answered your question. (nt) JK (the other JK) 3:15 PM, 06/15/09 (3) serious in getting confirmations Skimmer 3:23 PM, 06/15/09 (2) You already know the previous owner doesn't qualify for a loan. JK (the other JK) 3:55 PM, 06/15/09 (1) Re: You already know the previous owner doesn't qualify for a loan. Geri 7:31 PM, 06/15/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hi Ward, : I purchased a house at trustee sale this month, and had a chance to talk to previous owner's attorney on phone. He said they are in the process in doing loan modification, and the bank verbally agreed to postpone the sale, but the trustee just went ahead and sold the house. He wanted me to give his client, the previous owner a chance to buy it back, since he just got a new job, he really wants to stay. : I am ok with the plan to sell it back to him if he can buy it back at the current, or at least close to current market price. : But I think I am just wasting my time, since he just got his house foreclosed upon, had a bad credit, of course no savings. How can he afford to get a loan to buy? I also think giving him a chance first may later involve legal issue if he can't get the loan, and he doesn't want to move. His attorney may use this as a reason to fight back for him. : Am I correct? Or what do you suggest? Should I go ahead ask him to move out, if not eviction follows? or should I give him a chance? : Thanks, : Skimmer [ 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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