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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Not quite immediately... Posted by Rick, the Probate Guy on September 02, 2010 at 12:16 AM In Reply to: If I buy a non-performing note, can I start foreclosure immediately? posted by alex on September 02, 2010 at 8:27 AM If a foreclosure action has not already commened, you will have to advise the trustor/owner of record that you are the new lender, provide reasonable evidence of same, make a demand for them to cure the breach (i.e., installment payments, balloon payment or other breach) and give the statutory time sufficient to respond and cure the breach. You don't indicate what State this is concerning and there are many State-specific laws, depending on the type loan, etc. Have you read the statutes for your State? Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : If a foreclosure action has not already commened, you will have to advise the trustor/owner of record that you are the new lender, provide reasonable evidence of same, make a demand for them to cure the breach (i.e., installment payments, balloon payment or other breach) and give the statutory time sufficient to respond and cure the breach. : You don't indicate what State this is concerning and there are many State-specific laws, depending on the type loan, etc. : Have you read the statutes for your State? [ 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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