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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: more data Posted by Ward-CA- on September 19, 2001 at 12:29 AM In Reply to: more data posted by Alfred B on September 19, 2001 at 8:19 AM Ward. Yes the 1998 35K TD is a junior bene I'm after subject to the 1993 164K 1st, which is in F/C. The 1st went thru a few assignments and the TD is now with BA Mortgage LLC (owned by B of A). When the NOD came out on the 1st in August it listed them as the new Bene and a new TTEE. This bail bond company has recorded reconveyances before when the trustor paid them off which makes me think this one isn't paid off. There is a bene listed on this bail bond TD... Ranger Insurance Co. I think this guy pulled a fast one and the bail bond company is going to get the bad news from me. I'll do the research that you suggest. Is it best to stay away from bail bond TD's? Would a bail bond company sell their note at a discount? Is it a safe note to buy? Thanks, Alfred. =•=•=•=•=•=•=•=•=•=•==•=• Alfred, generally bail bonds are very short term, so I wouldn’t expect that you’d have a lot of them to deal with. My two concerns with bail bond TD’s are that they are more prone to paperwork errors because escrow isn’t involved and they’re famously slow to getting around recording their reconveyances. What you might look into are those cases where the bonded felon doesn’t show up and the bail bond is forfeit by the bondsman. At that point the amount of money on the face of the trust deed becomes due and payable. And then maybe, just maybe the bail bondsman might be willing to sell out to you for a discount now rather than going through the 4 month foreclosure hassle. Safety??? that’s a good question if they haven’t done any title research or obtained a title insurance policy concomitant to putting up the bond. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward. Yes the 1998 35K TD is a junior bene I'm after subject to the 1993 164K 1st, which is in F/C. The 1st went thru a few assignments and the TD is now with BA Mortgage LLC (owned by B of A). When the NOD came out on the 1st in August it listed them as the new Bene and a new TTEE. : This bail bond company has recorded reconveyances before when the trustor paid them off which makes me think this one isn't paid off. There is a bene listed on this bail bond TD... Ranger Insurance Co. I think this guy pulled a fast one and the bail bond company is going to get the bad news from me. : I'll do the research that you suggest. Is it best to stay away from bail bond TD's? Would a bail bond company sell their note at a discount? Is it a safe note to buy? Thanks, Alfred. : =•=•=•=•=•=•=•=•=•=•==•=• : Alfred, generally bail bonds are very short term, so I wouldn’t expect that you’d have a lot of them to deal with. My two concerns with bail bond TD’s are that they are more prone to paperwork errors because escrow isn’t involved and they’re famously slow to getting around recording their reconveyances. : What you might look into are those cases where the bonded felon doesn’t show up and the bail bond is forfeit by the bondsman. At that point the amount of money on the face of the trust deed becomes due and payable. And then maybe, just maybe the bail bondsman might be willing to sell out to you for a discount now rather than going through the 4 month foreclosure hassle. : Safety??? that’s a good question if they haven’t done any title research or obtained a title insurance policy concomitant to putting up the bond. 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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