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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Sure, just spell it out in your forebearance agmt. Posted by Ward-CA on May 23, 2003 at 11:16 PM In Reply to: Accepting less than full re-instatement amount posted by Lughead on May 23, 2003 at 7:20 PM : hello : we are going to publication next week on a Note : the Trustor says they wish to bring us current, but currently have about 75% of the money required to re-instate : can the Trustee accept this money and hold it in Trust until such time as he can payoff? : how does it work if they cannot come up with the remainder - can we keep the money and reduce our opening bid? : or do we need to give it back? : it we take it into a Trust account, can we still publish? : if he decides to decalre BK - then what do we do with the money? : naturally it is in our best interest to get back as much money asap : thank you for your help : Lughead =•=•=•=•=•=•=•=•=•=•=•= Lunk, If the trustee entered into a Forebearance Agreement with the trustor wherein they agree to postpone the trustee’s sale for a certain time beyond the present in exchange for the proferred 75%, then you wouldn’t need to hold it in trust—it’d just be a payment on account. If they couldn’t meet the forebearance deadline then the foreclosure that was treading water a day or so before the sale, would just start moving forward to a trustee’s sale. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : hello : : we are going to publication next week on a Note : : the Trustor says they wish to bring us current, but currently have about 75% of the money required to re-instate : : can the Trustee accept this money and hold it in Trust until such time as he can payoff? : : how does it work if they cannot come up with the remainder - can we keep the money and reduce our opening bid? : : or do we need to give it back? : : it we take it into a Trust account, can we still publish? : : if he decides to decalre BK - then what do we do with the money? : : naturally it is in our best interest to get back as much money asap : : thank you for your help : : Lughead : =•=•=•=•=•=•=•=•=•=•=•= : Lunk, : If the trustee entered into a Forebearance Agreement with the trustor wherein they agree to postpone the trustee’s sale for a certain time beyond the present in exchange for the proferred 75%, then you wouldn’t need to hold it in trust—it’d just be a payment on account. : If they couldn’t meet the forebearance deadline then the foreclosure that was treading water a day or so before the sale, would just start moving forward to a trustee’s sale. 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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