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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Jousting with the right of reinstatement Posted by Ward-CA- on November 19, 2001 at 7:58 PM In Reply to: posted by Dave on November 19, 2001 at 7:03 PM : Can a lender refuse reinstatement money from somebody other than the trustor? : If reinstatement in full is accepted from somebody other than the trustor can they continue the foreclosure? : I read where an investor reinstated a loan, took title and the beneficiary continued the foreclosre based on a violation of the due on sale clause. What would you do if that happened to you? : Thanks in advance, Dave =?=?=?=?=?=?=?=?=?=?= Dave, the lender can refuse reinstatement by anyone except those parties adversely affected by the lender?s foreclosure. That generally means anyone who holds an interest or a lien pertaining to the property that is in a subordinate position to the foreclosing lien. No, if a full reinstatement is accepted from a party entitled to exercise the right of reinstatement (see foregoing paragraph) the lender cannot legally continue with a foreclosure that has been cured. The investor you mentioned in your third interrogatory must have been dumber than a post to allow a lender to substitute one cause of action for an entirely different one in a foreclosure situation and not legally stop a lender from continuing on with a foreclosure that was legally cured by being reinstated. If I was the investor I would have instantly garnered a temporary restraining order (TRO) against the lender and their foreclosure processor (trustee or attorney) to stop the foreclosure dead in its tracks and then go to trial for a permanent injunction against them (and I would also have demanded and collected monetary sanctions against both parties). Hope this helps. Follow Ups: Re: Jousting with the right of reinstatement Dave 9:23 PM, 11/19/01 (1) Re: Jousting with the right of reinstatement Ward-CA- 3:14 PM, 11/20/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Can a lender refuse reinstatement money from somebody other than the trustor? : : If reinstatement in full is accepted from somebody other than the trustor can they continue the foreclosure? : : I read where an investor reinstated a loan, took title and the beneficiary continued the foreclosre based on a violation of the due on sale clause. What would you do if that happened to you? : : Thanks in advance, Dave : =?=?=?=?=?=?=?=?=?=?= : Dave, the lender can refuse reinstatement by anyone except those parties adversely affected by the lender?s foreclosure. That generally means anyone who holds an interest or a lien pertaining to the property that is in a subordinate position to the foreclosing lien. : No, if a full reinstatement is accepted from a party entitled to exercise the right of reinstatement (see foregoing paragraph) the lender cannot legally continue with a foreclosure that has been cured. : The investor you mentioned in your third interrogatory must have been dumber than a post to allow a lender to substitute one cause of action for an entirely different one in a foreclosure situation and not legally stop a lender from continuing on with a foreclosure that was legally cured by being reinstated. : If I was the investor I would have instantly garnered a temporary restraining order (TRO) against the lender and their foreclosure processor (trustee or attorney) to stop the foreclosure dead in its tracks and then go to trial for a permanent injunction against them (and I would also have demanded and collected monetary sanctions against both parties). : 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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