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 ] Yes, you need to conform with all EPA requirements... Posted by Ward-CA- on November 26, 2003 at 5:25 PM In Reply to: EPA needed? posted by Narm on November 26, 2003 at 5:12 PM : The situation: Owner's in foreclosure (NTS stage). Plan to get the forebearance done. Help owner pay for minimum amount needed to start forebearance and put that amount as down payment in lease option contract. Then, sanwich lease option to tenant buyer. Eventually, 2-3 months down the road, I want to have owner grant deed using THT. Do I need to use EPA still? Is the house still considered in foreclosure process and I need to look out for foreclosure laws? Please help me!! =?=?=?=?=?=?=?=?=?=?= Narm, The test of whether or not you need to comply with the mandates of CA Civil Code §1695 is fairly simple. The property owner has to be living in the property being foreclosed upon and the buyer (you) doesn't intend to move into the property and use it as their residence. The manner and details of how the ownership is being transferred or the time period involved is immaterial to determining if the code is applicable or not. Hope this helps. Follow Ups: Re: Yes, you need to conform with all EPA requirements... Narm 3:08 AM, 11/28/03 (1) Nope.. Ward-CA- 8:56 PM, 11/28/03 (0) Re: Yes, you need to conform with all EPA requirements... Narm 0:42 AM, 11/28/03 (1) Looking forward to it... Ward-CA- 6:39 AM, 11/28/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : The situation: Owner's in foreclosure (NTS stage). Plan to get the forebearance done. Help owner pay for minimum amount needed to start forebearance and put that amount as down payment in lease option contract. Then, sanwich lease option to tenant buyer. Eventually, 2-3 months down the road, I want to have owner grant deed using THT. Do I need to use EPA still? Is the house still considered in foreclosure process and I need to look out for foreclosure laws? Please help me!! : =?=?=?=?=?=?=?=?=?=?= : Narm, : The test of whether or not you need to comply with the mandates of CA Civil Code §1695 is fairly simple. The property owner has to be living in the property being foreclosed upon and the buyer (you) doesn't intend to move into the property and use it as their residence. : The manner and details of how the ownership is being transferred or the time period involved is immaterial to determining if the code is applicable or not. : : 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. Read our privacy policy.

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