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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Don't ask Posted by Tom on June 23, 2009 at 10:53 AM In Reply to: Trustee Sale after Deed in Lieu posted by Peter in CA on June 23, 2009 at 1:00 AM Your posting indicates that you know just enough to get yourself into big trouble. Your posting makes very little sense and you omitted a lot of necessary info. Your posting indicates to me that you've read/heard about foreclosures from every source imaginable, but not necessarily well informed sources. You're at the point where you don't know what to believe and what not to believe, so you believe everything you read/hear. 1) U.S. Bank buying notes at 50% on the dollar is hearsay. You don't know what they may have paid, or if they bought them from New Century Mortgage before or after they went into receivership. If any event, uncollected interest and fees aren't part of the function to determine what their costs were. It's quite common for the uniformed to think that they are and some so-called gurus on this board have that misunderstanding. 2) They used a trustee sale because apparently they foreclosed. The title may be unclear in your mind, but it shouldn't be an issue from the very sketchy info given. Quit trying to hypothesize why the bank did what they did - it will get you nowhere - or rationalizing that you may have gotten a deal? There's not enough info to even guess how profitable the transaction may prove to be or not to be. Use your energy and money to get trained first. Follow Ups: Re: Don't ask Peter in CA 12:38 AM, 06/23/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Your posting indicates that you know just enough to get yourself into big trouble. Your posting makes very little sense and you omitted a lot of necessary info. Your posting indicates to me that you've read/heard about foreclosures from every source imaginable, but not necessarily well informed sources. You're at the point where you don't know what to believe and what not to believe, so you believe everything you read/hear. : 1) U.S. Bank buying notes at 50% on the dollar is hearsay. You don't know what they may have paid, or if they bought them from New Century Mortgage before or after they went into receivership. If any event, uncollected interest and fees aren't part of the function to determine what their costs were. It's quite common for the uniformed to think that they are and some so-called gurus on this board have that misunderstanding. : 2) They used a trustee sale because apparently they foreclosed. The title may be unclear in your mind, but it shouldn't be an issue from the very sketchy info given. : Quit trying to hypothesize why the bank did what they did - it will get you nowhere - or rationalizing that you may have gotten a deal? There's not enough info to even guess how profitable the transaction may prove to be or not to be. Use your energy and money to get trained first. [ 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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