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Re-Instatement

Posted by Lughead on October 30, 2003 at 11:03 PM

hello

we are foreclosing on a note -

a) do we have any responsibility to specifically notify the trustor that we will not accept re-instatement in the final 5 days?

b) if we so choose, may we accept a amoutnt less than full payment without canceling the full debt?
example - if note is for $100,000
re-instatement amount is $15,000
can we in the last 5 days require an amount of $50,000 or greater to cancel the sale?

thank you
Lughead


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