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 ] Real world lessons - Course #301 Posted by Rick Harmon on February 03, 2004 at 10:16 PM In Reply to: This isnt Kansas ... or SC posted by JK on February 03, 2004 at 9:35 PM : Sorry Sean : Our state is not that quick - we hand over our money and wait and wait and .... ============================================ Well, here's another slant on the problem. When I act as trustee of record for a TD that I'm foreclosing on, I may be acting for my investor/lender/beneficiary while at the same time delegating the foreclosure work to a foreclosure company who acts as agent. THis is the way it often really works. Trying to get the protocol correct and thru the bureaucracy such as that and you're bound to have delays. In my business, which is still eyeball-to-eyeball relationships with these above parties, it still takes time for F/C agent to get the Trustee's Deed to me for signature and back for presentation to the 3rd party t-sale buyer in anything less than several days. And what's my motivation to hustle? OK, now that you know what maybe really happening, I think the earlier posting from (Ward?) says it best: Hand over your check to the auctioneer with a deposit directive conditioned upon them providing you the documentation in the format and the timeframe you specify. Staple the cashier's check to the directive. IF they deposit and flub up, you got some more teeth. Follow up immediately with a copy of that letter with a cover letter advising the trustee of their responsibilty to perform, etc. You get the idea, don't give 'em any rope to hang themselves with. By the way, it never hurts to charm the people at the trustee's office with candybars, Starbucks, etc. Rick Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Sorry Sean : : Our state is not that quick - we hand over our money and wait and wait and .... : ============================================ : Well, here's another slant on the problem. When I act as trustee of record for a TD that I'm foreclosing on, I may be acting for my investor/lender/beneficiary while at the same time delegating the foreclosure work to a foreclosure company who acts as agent. THis is the way it often really works. Trying to get the protocol correct and thru the bureaucracy such as that and you're bound to have delays. : In my business, which is still eyeball-to-eyeball relationships with these above parties, it still takes time for F/C agent to get the Trustee's Deed to me for signature and back for presentation to the 3rd party t-sale buyer in anything less than several days. And what's my motivation to hustle? : OK, now that you know what maybe really happening, I think the earlier posting from (Ward?) says it best: Hand over your check to the auctioneer with a deposit directive conditioned upon them providing you the documentation in the format and the timeframe you specify. Staple the cashier's check to the directive. IF they deposit and flub up, you got some more teeth. Follow up immediately with a copy of that letter with a cover letter advising the trustee of their responsibilty to perform, etc. : You get the idea, don't give 'em any rope to hang themselves with. : By the way, it never hurts to charm the people at the trustee's office with candybars, Starbucks, etc. : 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

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 © 1997-2004, 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