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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Some observations.. Posted by Ward-CA- on December 16, 2003 at 7:41 AM In Reply to: Cure 1st in foreclosure? posted by Larry Marshall on December 16, 2003 at 6:39 AM : I have a deed for a house in foreclosure in Los Angeles. The following are the positions: : 1st TD: $160,000 : 2nd TD: 40,000 : It's been about 30 days since the NOD was filed. The 1st is in arrears about $10K and needs about 5-10K work. The house is worth about 230K. The 2nd seems not to want to discount at all. : Can anyone estimate what additional charges the 1st might add before it goes to sale? : Someone suggested curing the 1st and waiting for the 2nd to come around. Can anyone explain this strategy? I am confused about what it might accomplish. : Thanks - Larry ======================== Larry, The first is going to add the approximately $4,800 in trustee's fees for processing the foreclosure. In addition there will be about 4 months of additional interest (approx. $4,000) owing the 1st since the Notice of Default (NOD) was recorded. Curing the 1st takes pressure off of the 2nd?it doesn't add any!! Hope this helps. Follow Ups: Re: Some observations.. Larry Marshall 10:51 AM, 12/17/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I have a deed for a house in foreclosure in Los Angeles. The following are the positions: : : 1st TD: $160,000 : : 2nd TD: 40,000 : : It's been about 30 days since the NOD was filed. The 1st is in arrears about $10K and needs about 5-10K work. The house is worth about 230K. The 2nd seems not to want to discount at all. : : Can anyone estimate what additional charges the 1st might add before it goes to sale? : : Someone suggested curing the 1st and waiting for the 2nd to come around. Can anyone explain this strategy? I am confused about what it might accomplish. : : Thanks - Larry : ======================== : Larry, : The first is going to add the approximately $4,800 in trustee's fees for processing the foreclosure. In addition there will be about 4 months of additional interest (approx. $4,000) owing the 1st since the Notice of Default (NOD) was recorded. : Curing the 1st takes pressure off of the 2nd?it doesn't add any!! : 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

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