InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Negotiating reinstatement Posted by Rudy on April 17, 2003 at 1:16 PM Is it possible to negotiate with a bank on the loan reinstatement amount? I have a pre-trustee sale seller that owes about $30,000 to reinstate, after which I will take over their property "subject to". Since there is equity in the property, will the bank laugh if I offer $20,000? Or will there be a 1099 to the seller for the amount forgiven? And who do I call...loss mitigation? Follow Ups: Re: Negotiating reinstatement Jorge 9:45 AM, 04/18/03 (0) Re: Negotiating reinstatement SeanW 5:34 PM, 04/17/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Is it possible to negotiate with a bank on the loan reinstatement amount? : I have a pre-trustee sale seller that owes about $30,000 to reinstate, after which I will take over their property "subject to". Since there is equity in the property, will the bank laugh if I offer $20,000? Or will there be a 1099 to the seller for the amount forgiven? : And who do I call...loss mitigation? 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

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.

Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455