InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Deed of trust coupled with future advances clause. Posted by Ward-CA- on November 30, 2001 at 6:10 PM In Reply to: DOT with advances posted by Todd-wa on November 30, 2001 at 1:43 PM : Question about a DOT that has provisions for advances. The wording in the doc states that, "changes...including future advances...the maximum aggragate principle is $150,000." : The amount borrowed at the time the DOT was made was $101,000. : Would there need to be an another doc recorded if they got an advance? Any exceptions? =?=?=?=?=?=?=?=?=?=?= Todd, you generally will see a recorded Notice of Advance whenever a future advance is made, especially if there are recorded liens junior to the subject deed of trust. One way to find out for sure though, is to either ask the lender that is involved what their procedure is, or call that senior title officer you take out to lunch every 3 months or so. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Question about a DOT that has provisions for advances. The wording in the doc states that, "changes...including future advances...the maximum aggragate principle is $150,000." : : The amount borrowed at the time the DOT was made was $101,000. : : Would there need to be an another doc recorded if they got an advance? Any exceptions? : =?=?=?=?=?=?=?=?=?=?= : Todd, you generally will see a recorded Notice of Advance whenever a future advance is made, especially if there are recorded liens junior to the subject deed of trust. One way to find out for sure though, is to either ask the lender that is involved what their procedure is, or call that senior title officer you take out to lunch every 3 months or so. 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

Copyright © 1997-2001, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455