At the San Diego Zoo

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 ]

Re: 30% tops (nt)

Posted by Ward-CA- on September 25, 2001 at 10:18 AM

In Reply to: 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:


Post a Followup:

Name    : 
E-Mail  : 
Subject : 
Comments: 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

Our home page is at http://www.foreclosureforum.com

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

[an error occurred while processing this directive]