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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Here's a doable deal.. Posted by Pattyk on June 30, 2003 at 1:22 PM In Reply to: Here's a doable deal.. posted by Ward-CA- on June 30, 2003 at 12:54 AM : Why not buy the house now? Settle on a price and down payment amount with the owner and then give them a promissory note, secured by a deed of trust or mortgage against the property for the remainder of the owner’s equity—subject to the existing liens. I'd love to buy the house now. Homeowner said a price and we said "Ok, here's the purchase to offer paper." but she has never signed it and given it back to us. She is filing Bk also. She has no equity in the property, she's not made payments for six month. She can reinstate the loan. We have left her three voice mails in the last two weeks, none of which she has returned. And her cell phone isn't working or she had to have it turned off. The rest of what you have written is out of my financial vocabulary! However I"m listening and perhaps my mortgage broker can walk us thur it? The homeowner has a real-estate attorney an I have talked to him also. I do have written permission from the homeowner to obtain information about her loan. I do have her pay off sheet. : That way you’d have all the time you need to reinstate the delinquent loan(s) and then shop around for the best refinancing loan you could find. I have a great mortgage broker. Financing seems to be going fine, but now refinancing would be something different. Thanks for writing, I'm printing it out and will try and read more on these topics! I have alot to learn. Any other thoughts? Thanks pattyk Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Why not buy the house now? Settle on a price and down payment amount with the owner and then give them a promissory note, secured by a deed of trust or mortgage against the property for the remainder of the owner’s equity—subject to the existing liens. : I'd love to buy the house now. Homeowner said a price and we said "Ok, here's the purchase to offer paper." but she has never signed it and given it back to us. She is filing Bk also. She has no equity in the property, she's not made payments for six month. She can reinstate the loan. We have left her three voice mails in the last two weeks, none of which she has returned. And her cell phone isn't working or she had to have it turned off. : The rest of what you have written is out of my financial vocabulary! However I"m listening and perhaps my mortgage broker can walk us thur it? The homeowner has a real-estate attorney an I have talked to him also. I do have written permission from the homeowner to obtain information about her loan. I do have her pay off sheet. : : That way you’d have all the time you need to reinstate the delinquent loan(s) and then shop around for the best refinancing loan you could find. : I have a great mortgage broker. Financing seems to be going fine, but now refinancing would be something different. : Thanks for writing, I'm printing it out and will try and read more on these topics! I have alot to learn. Any other thoughts? : Thanks : pattyk 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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