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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] missing the point Posted by Atty on January 04, 2010 at 9:01 AM In Reply to: Re: Investor/lender rescinding trustee sale. posted by Kristine-Ca on December 24, 2009 at 11:37 AM Guys, I am astounded at your overal response to this thread, given that most of you are foreclosure investors. You suggest moving to another deal, but that same problem may happen with another deal. Once enough banks figure this one out, all your deals will be "no-deals." Just think: short sale / loan mod negotiations are WITHIN THE BANK'S CONTROL. So nothing would stop the bank from looking at the results of the auction and then refuse to take the auction deal. They could do it with as many properties as they wish. The bank is using the machinery of the State to test out the market. And you are the ones paying for it with your time and money. As always, the devil is in the details, but I bet the OP can (and should) challenge the bank's and trustee's practice here and quickly settle it for about 1/3-1/2 of his damages. Follow Ups: Re: missing the point STAND 4:45 PM, 02/01/10 (0) Re: missing the point Rick, the Probate Guy 12:14 AM, 01/04/10 (1) Re: missing the point Atty 5:33 AM, 02/08/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Guys, I am astounded at your overal response to this thread, given that most of you are foreclosure investors. : You suggest moving to another deal, but that same problem may happen with another deal. Once enough banks figure this one out, : all your deals will be "no-deals." : Just think: short sale / loan mod negotiations are WITHIN THE BANK'S CONTROL. So nothing would stop the bank from : looking at the results of the auction and then refuse to take the auction deal. They could do it with as many properties as they wish. : The bank is using the machinery of the State to test out the market. And you are the ones paying for it with your time and money. : As always, the devil is in the details, but I bet the OP can (and should) challenge the bank's and trustee's practice here and quickly settle it for about 1/3-1/2 of his damages. [ 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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