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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] RESPA Posted by Brian on September 18, 2001 at 11:27 AM I buy foreclosures and I try to be fair. However, it's hard to compete with buyers who don't play by the rules. I recently lost a deal to a guy who gave a 30 day reinstatement loan in exchange for a quit claim deed to be recorded if the loan was not paid. I don't know the laws myself, but this seems to bypass the foreclosure statutes that protect homeowners. How can I learn the laws? Are we controlled by RESPA? If this transaction was illegal, does the borrower have to repay the loan? Thanks! Follow Ups: Re: RESPA Ward-CA- 1:35 PM, 09/18/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I buy foreclosures and I try to be fair. However, it's hard to compete with buyers who don't play by the rules. I recently lost a deal to a guy who gave a 30 day reinstatement loan in exchange for a quit claim deed to be recorded if the loan was not paid. I don't know the laws myself, but this seems to bypass the foreclosure statutes that protect homeowners. How can I learn the laws? Are we controlled by RESPA? If this transaction was illegal, does the borrower have to repay the loan? Thanks! Optional Link URL: Link Title: Optional Image URL: [ 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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