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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Everything looks good. Posted by Ward-CA- on October 13, 2001 at 3:24 PM In Reply to: Are we on top of things? posted by Alfred CA on October 13, 2001 at 1:58 AM : Ward, : Re: This 1st JBB project of ours. We checked with the trustee 2 days before the deadline to reinstate. The trustor hadn't done anything so we stepped in and reinstated the 12K. Trustee called us the next day informing us that the trustor had reinstated also and he was accepting his reinstatement over ours. That's understandable. : Incidentally, we found out from trustee that the trustor would've reinstated a week earlier, but he had mailed the check to the wrong address. It was returned to him and then he had to remail it. We had wondered why he hadn't reinstated or refinanced because he's got close to 60K in equity. : So now it looks like we just sit back and wait out our 111 days. I guess the remaining three scenarios are... 1) we may get reinstated before we have our trustee sale (if so, we sell the note); 2) we may get paid in full through our sale (if so, we get our full amount owed, and any overbid goes to the trustor, since there isn't a 3rd); or 3) we may get the property through our sale (if so, we clean it up and do a quick sale, making the most profit of all). Does this all look right to you? =•=•=•=•=•=•=•=•=•=•=•=•= Alfred, you guys are doing fine. Everything is playing out the way it should. The owner just made another $12K commitment to the property. I don’t think he intends to back off at this point. You’re about to enter my rogue’s gallery of accomplished JBB specialists. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Re: This 1st JBB project of ours. We checked with the trustee 2 days before the deadline to reinstate. The trustor hadn't done anything so we stepped in and reinstated the 12K. Trustee called us the next day informing us that the trustor had reinstated also and he was accepting his reinstatement over ours. That's understandable. : : Incidentally, we found out from trustee that the trustor would've reinstated a week earlier, but he had mailed the check to the wrong address. It was returned to him and then he had to remail it. We had wondered why he hadn't reinstated or refinanced because he's got close to 60K in equity. : : So now it looks like we just sit back and wait out our 111 days. I guess the remaining three scenarios are... 1) we may get reinstated before we have our trustee sale (if so, we sell the note); 2) we may get paid in full through our sale (if so, we get our full amount owed, and any overbid goes to the trustor, since there isn't a 3rd); or 3) we may get the property through our sale (if so, we clean it up and do a quick sale, making the most profit of all). Does this all look right to you? : =•=•=•=•=•=•=•=•=•=•=•=•= : Alfred, you guys are doing fine. Everything is playing out the way it should. The owner just made another $12K commitment to the property. I don’t think he intends to back off at this point. You’re about to enter my rogue’s gallery of accomplished JBB specialists. 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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