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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] If I buy 2nd at sale, can I reinstate first? Posted by Timmy in MN on June 26, 2009 at 11:00 AM A nice lake home's second mortgage for under $30k has foreclosed, sale is soon. The owner died, and family is feuding. I tried to buy it sub2 but couldn't. The first--which I know to be $180K--has not yet foreclosed, even though it is owned by the same large, nat'l bank. If I buy the second at sale, will I be allowed to reinstate the first and take over payments, which I know are reasonable? I've read in the past that lenders are required to allow this, but don't know if it's true. I'm hoping for a link and/or references that can assure me. Follow Ups: from a lender's perspective hard money lender 9:15 PM, 06/27/09 (0) Re: If I buy 2nd at sale, can I reinstate first? Rick, the Probate Guy 12:45 AM, 06/26/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : A nice lake home's second mortgage for under $30k has foreclosed, sale is soon. : The owner died, and family is feuding. I tried to buy it sub2 but couldn't. The first--which I know to be $180K--has not yet foreclosed, even though it is owned by the same large, nat'l bank. If I buy the second at sale, will I be allowed to reinstate the first and take over payments, which I know are reasonable? I've read in the past that lenders are required to allow this, but don't know if it's true. I'm hoping for a link and/or references that can assure me. [ 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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