InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] blind offers Posted by Alfred on September 24, 2001 at 11:41 AM Ward, We contacted a junior bene (EMC Mortgage Corp) to make an offer on their note. We were told that according to their policy, they do not provide the particulars on the loan (remaining balance, interest rate, term, monthly payment) and that all parties making offers are just expected to have done thier due diligence and make a "blind offer" based on the info that they've gathered. We were also told that if we wanted to attempt to get the loan info we could possibly go through their foreclosure attorney. How do you think that we should approach this? (Our idea is to contact their attorney and see if he will divulge the info and if not we'll... 1) make a current check to ensure there hasn't been a reinstatement or sale; 2)recheck Pacer to ensure no BK; 3) review our calculations on the particulars of the 2nd loan; 4) if all checks out... fax them an offer for 45-50% of what we consider the remaining balance to be, and not a penny more.) What do you think Fearless Leader? Follow Ups: Re: 30% tops (nt) Ward-CA- 10:18 AM, 09/25/01 (1) Re: 30% tops (nt) Kristi 9:36 AM, 06/18/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : We contacted a junior bene (EMC Mortgage Corp) to make an offer on their note. We were told that according to their policy, they do not provide the particulars on the loan (remaining balance, interest rate, term, monthly payment) and that all parties making offers are just expected to have done thier due diligence and make a "blind offer" based on the info that they've gathered. We were also told that if we wanted to attempt to get the loan info we could possibly go through their foreclosure attorney. How do you think that we should approach this? : (Our idea is to contact their attorney and see if he will divulge the info and if not we'll... 1) make a current check to ensure there hasn't been a reinstatement or sale; 2)recheck Pacer to ensure no BK; 3) review our calculations on the particulars of the 2nd loan; 4) if all checks out... fax them an offer for 45-50% of what we consider the remaining balance to be, and not a penny more.) : What do you think Fearless Leader? 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

Copyright © 1997-2001, InnoVest Resource Management

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