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 ] Financing Posted by Mr. Goodbuy on July 30, 2003 at 10:26 PM Ward, I have been watching your Message Board for about a year and I just purchased my first house! It is truly awesome and you should know that you are my inspiration, a master of your art, and I owe my success to the priceless answers which you send to me every night in the forum digest. I read your forums. I read the real estate dictionary. I hang out at the court house and the recorders office and ask questions and read documents. And, I read your forums again. From the bottom of my heart - thank you. Here's the scoop... Trustor, a single and elderly gentleman, refinanced home to 148K in 2002 and then split for Costa Rica. (an interesting concept). The lender accepted a bid of 126K and now I am in title. Next, I went to my bank to finance and they would only lend on the purchase price, 126K. My question is: The trustor was able to finance to 148K, what are your ideas on how I can extract some of the equity out of this property? Thank you Your humble desciple. Follow Ups: Refinancing a recent purchase. Ward-CA- 6:28 AM, 07/31/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : I have been watching your Message Board for about a year and I just purchased my first house! It is truly awesome and you should know that you are my inspiration, a master of your art, and I owe my success to the priceless answers which you send to me every night in the forum digest. I read your forums. I read the real estate dictionary. I hang out at the court house and the recorders office and ask questions and read documents. And, I read your forums again. From the bottom of my heart - thank you. : Here's the scoop... Trustor, a single and elderly gentleman, refinanced home to 148K in 2002 and then split for Costa Rica. (an interesting concept). The lender accepted a bid of 126K and now I am in title. Next, I went to my bank to finance and they would only lend on the purchase price, 126K. : My question is: The trustor was able to finance to 148K, what are your ideas on how I can extract some of the equity out of this property? : Thank you : Your humble desciple. 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