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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Notice of Intent to Foreclose letter... Posted by Rick Harmon on January 10, 2004 at 8:54 AM In Reply to: Notice of Intent to Foreclose letter... posted by Dave on January 10, 2004 at 8:30 AM : ..what's that? : Why not simply have the trustee service record the NOD? : Dave =========================================== Dave, We're saying the same thing. We have a policy to send a letter (as a formality only) with large typeface heading that we intend to foreclose. This reduces the effectiveness of a borrower's argument that they knew they were late but didn't know we were going to start foreclosure. If you don't want to send such a letter, fine. However, if I were working with a homeowner in default in found that "flaw" in your system, I'd be all over it. Wise lenders back down every time. I've been doing this stuff since '78 and lenders don't want to get tied up up in litigation, frivilous or otherwise. What do you think is best approach? Rick Follow Ups: Re: Notice of Intent to Foreclose letter... Dave 11:13 AM, 01/10/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : ..what's that? : : Why not simply have the trustee service record the NOD? : : Dave : =========================================== : Dave, : We're saying the same thing. We have a policy to send a letter (as a formality only) with large typeface heading that we intend to foreclose. This reduces the effectiveness of a borrower's argument that they knew they were late but didn't know we were going to start foreclosure. : If you don't want to send such a letter, fine. However, if I were working with a homeowner in default in found that "flaw" in your system, I'd be all over it. Wise lenders back down every time. I've been doing this stuff since '78 and lenders don't want to get tied up up in litigation, frivilous or otherwise. : What do you think is best approach? : 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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