InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Fine points... Posted by Ward-CA- on June 24, 2003 at 4:48 PM In Reply to: EPA and Notice of cancelation posted by Deb on June 24, 2003 at 1:24 PM : Hi Ward, I have several questions: : 1. Do I need to do an EPA & Notice of Cancelation(NOC) if I'm only doing a short sale (but the loan is in default)? : 2. Do I need an EPA & NOC if I'm optioning the property only(loan in default)? : 3. What do I put on EPA if I don't have all the deal points worked out yet? : 4. What do I put on EPA if seller is unsure of debt on the property? : 5. Must I wait all 5 days to get ANY other documents signed from seller or just some? : Thanks =•=•=•=•=•=•=•=•=•=•= Deb, #1. Nope #2. Nope #3. Refer to an attached amendment #4. State what she thinks it is with the proviso that if the total indebtedness turns out to be more, the excess will be deducted from the equity share promised the seller. #5. Wait to have them sign anything that requires notarized signatures or materially changes the original agreement contained in the EPA. Follow Ups: Re: Fine points... David 10:27 AM, 06/26/03 (1) Re: Fine points... Ward-CA- 11:45 AM, 06/26/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward, I have several questions: : : 1. Do I need to do an EPA & Notice of Cancelation(NOC) if I'm only doing a short sale (but the loan is in default)? : : 2. Do I need an EPA & NOC if I'm optioning the property only(loan in default)? : : 3. What do I put on EPA if I don't have all the deal points worked out yet? : : 4. What do I put on EPA if seller is unsure of debt on the property? : : 5. Must I wait all 5 days to get ANY other documents signed from seller or just some? : : Thanks : =•=•=•=•=•=•=•=•=•=•= : Deb, : #1. Nope : #2. Nope : #3. Refer to an attached amendment : #4. State what she thinks it is with the proviso that if the total indebtedness turns out to be more, the excess will be deducted from the equity share promised the seller. : #5. Wait to have them sign anything that requires notarized signatures or materially changes the original agreement contained in the EPA. 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

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.

Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com

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