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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Finalizing a pre-foreclosure deal Posted by Rick on October 08, 2003 at 11:45 AM Ward, I'm about one week away from closing my sale of a property I bought "subject to" earlier this year. Here's the question... Since the subject to loan had impounds, if there are any overages that the bank would "refund", would they not make out a check in the original owners name (rather than mine)? And if so, how would I convince the bank to make the check out to me? Could I ask them to apply the funds to principal when they prepare a payoff statement? ( I have a feeling you'll say I should have put the property into a trust...unfortunately I did not.) Thanks for all the great info you provide! Rick Follow Ups: Finalizing a pre-foreclosure deal Ward-CA- 12:29 AM, 10/09/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : I'm about one week away from closing my sale of a property I bought "subject to" earlier this year. Here's the question... : Since the subject to loan had impounds, if there are any overages that the bank would "refund", would they not make out a check in the original owners name (rather than mine)? And if so, how would I convince the bank to make the check out to me? : Could I ask them to apply the funds to principal when they prepare a payoff statement? ( I have a feeling you'll say I should have put the property into a trust...unfortunately I did not.) : Thanks for all the great info you provide! : Rick 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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