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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] EPA - split versus Predatory Lender Posted by steve on June 28, 2003 at 2:27 PM hello Is it only considered predatory lending if the trustor gives us a Deed of Trust?? in exchange for brining his back payments current??? in our case we have a Trustor who is coming up on his sale date - i knocked on his door - which is how he now knows that he is in foreclosure he was oblivious to the truth - thought all was fine - he had some disability insurance and thought that his payments were being made he has been fixing his home with the intent to sell on the open market - even had an appraisal done Question - how should we structure the EPA such that we bring the note current and in so doing purchase a portion of the home versus dividing trying to divide it up now(ie performance deed etc) - this may be an easier 'sell' to him basically our goal is to split the actual profits realized rather than apprroximate them up front Would it be Kosher to agree to transfer property to THT - he assigns a percentage of beneficial interest to us in exchange for brining the note current? OR - is this just going to be a mess - and we should get the deed and agree to give him a potion of the sales proceeds?? Just trying to see what would be more pallatable for the guy Hopefully the above makes sense - - thank you steve Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : hello : Is it only considered predatory lending if the trustor gives us a Deed of Trust?? in exchange for brining his back payments current??? : : in our case : we have a Trustor who is coming up on his sale date - i knocked on his door - which is how he now knows that he is in foreclosure : he was oblivious to the truth - thought all was fine - he had some disability insurance and thought that his payments were being made : he has been fixing his home with the intent to sell on the open market - even had an appraisal done : Question - how should we structure the EPA such that we bring the note current and in so doing purchase a portion of the home versus dividing trying to divide it up now(ie performance deed etc) - this may be an easier 'sell' to him : basically our goal is to split the actual profits realized rather than apprroximate them up front : Would it be Kosher to agree to transfer property to THT - he assigns a percentage of beneficial interest to us in exchange for brining the note current? : OR - is this just going to be a mess - and we should get the deed and agree to give him a potion of the sales proceeds?? : Just trying to see what would be more pallatable for the guy : Hopefully the above makes sense - - : thank you : steve 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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