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Re: Negotiating reinstatementIn Reply to: Negotiating reinstatement posted by Rudy on April 17, 2003 at 1:16 PM I guess it's bad form to keep jumping in before Ward, but to me, your question doesn't fit together. If it's a preforeclosure sale, the reinstatement would be for the senior deed of trust, right? I didn't think any "negotiation" takes place. If anything, you don't want the lender to be tipped off that you're trying to do a subject-to... You'd just slip them the 30K. So I'll assume this is a rare case where the lender is amenable to the subject-to. The only way it makes sense to me to negotiate, is if the house is such a mess (documentable with photos) that you can scare the lender's REO department and make this a short sale. Convince the lender they REALLY don't want this one. Anyway, if the lender has a clue and the house has equity, I would assume they'll turn down your offer. You might get them to back off on the penalties and just accept the back payments of principal and interest if you're a good credit risk. But I see no reason why they'd accept less then the note should have payed.
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