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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: prepayment penalty Posted by SeanW on February 27, 2004 at 6:24 PM In Reply to: prepayment penalty posted by bh1240 on February 27, 2004 at 2:47 PM :: i bought a house in second lien trustee sale.when i requested to payoff the first loan, EMC send me an instruction which including $ 5500 prepayment penalty. Can anyone tell me if it is entitled to do so. Perhaps Ward knows a kink to this I'm unaware of... But my reaction is: "Sure, why not??" After all, the first trust deed is public record. Any buyer at a trustee sale can look it up, read it, and know the terms by which that lender's interest is bound. Follow Ups: Re: prepayment penalty bh1240 8:12 PM, 02/27/04 (3) Yes, if it's within the norm... Ward-CA- 10:57 PM, 02/27/04 (2) Re: Yes, if it's within the norm... Nick(Colorado) 8:13 AM, 03/01/04 (1) Disagree Lughead 9:54 AM, 03/03/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : :: i bought a house in second lien trustee sale.when i requested to payoff the first loan, EMC send me an instruction which including $ 5500 prepayment penalty. Can anyone tell me if it is entitled to do so. : Perhaps Ward knows a kink to this I'm unaware of... But my reaction is: "Sure, why not??" After all, the first trust deed is public record. Any buyer at a trustee sale can look it up, read it, and know the terms by which that lender's interest is bound. 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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