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 ] Ask for the selling bene's note file. Posted by Ward-CA- on August 16, 2003 at 6:58 PM In Reply to: Best resource for determining note terms and balance? posted by kennyboy on August 16, 2003 at 8:47 AM : What is the best resource for determining the note terms and balance. Default and notice of sales give payoff info but not terms. Trust deeds don't have the notes attached do they? Note terms can vary wildly from fixed to ARMS to interest only balloons which makes estimating risky. : So if I'm looking at a second, I can call the bene and get that info, but what about the terms of the first note? Can I call that bene? Is it recorded somewhere? Sometimes the bene also defaulted and cured the first so the payoff would be in the notice of trustee sale, but not the terms. : Any help would be greatly appreciated. : What is the best resource for determining the note terms and balance. Default and notice of sales give payoff info but not terms. Trust deeds don't have the notes attached do they? Note terms can vary wildly from fixed to ARMS to interest only balloons which makes estimating risky. : So if I'm looking at a second, I can call the bene and get that info, but what about the terms of the first note? Can I call that bene? Is it recorded somewhere? Sometimes the bene also defaulted and cured the first so the payoff would be in the notice of trustee sale, but not the terms. : Any help would be greatly appreciated. =-=-=-=-=-=-=-=-=-=-=-=- Kennyboy, No, trust deeds don’t have any notes attached. So you’re not going to find the note terms recorded anywhere. And yes, note terms are as varied as note writers. But usually the selling bene of a junior note will still have the info they collected on the terms of the first when they got involved making the 2nd. All I do is ask the selling bene for their note file. That’s where you’ll find the info on the 1st note. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : What is the best resource for determining the note terms and balance. Default and notice of sales give payoff info but not terms. Trust deeds don't have the notes attached do they? Note terms can vary wildly from fixed to ARMS to interest only balloons which makes estimating risky. : : So if I'm looking at a second, I can call the bene and get that info, but what about the terms of the first note? Can I call that bene? Is it recorded somewhere? Sometimes the bene also defaulted and cured the first so the payoff would be in the notice of trustee sale, but not the terms. : : Any help would be greatly appreciated. : : What is the best resource for determining the note terms and balance. Default and notice of sales give payoff info but not terms. Trust deeds don't have the notes attached do they? Note terms can vary wildly from fixed to ARMS to interest only balloons which makes estimating risky. : : So if I'm looking at a second, I can call the bene and get that info, but what about the terms of the first note? Can I call that bene? Is it recorded somewhere? Sometimes the bene also defaulted and cured the first so the payoff would be in the notice of trustee sale, but not the terms. : : Any help would be greatly appreciated. : =-=-=-=-=-=-=-=-=-=-=-=- : Kennyboy, : No, trust deeds don’t have any notes attached. So you’re not going to find the note terms recorded anywhere. And yes, note terms are as varied as note writers. : But usually the selling bene of a junior note will still have the info they collected on the terms of the first when they got involved making the 2nd. All I do is ask the selling bene for their note file. That’s where you’ll find the info on the 1st note. : Hope this helps. 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