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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Need to consider the strictures of anti-predatory loan rules... Posted by Ward-CA- on March 21, 2004 at 2:15 PM In Reply to: Have you considered. . . posted by Irwin(CA) on March 21, 2004 at 2:05 PM : whyK, : Have you considered loaning the homeowner sufficient cash to reinstate the defaulted loan? That way you can foreclose if payments to you or the other loans aren't made. : The loan would be made through a real estate broker and include a shared appreciation (or shared equity) provision and have a 3-5 year due date. : It seems to me that this has all the benefits of your plan but avoids having to "partner" with the homeowner. : Just thinking out loud. : Irwin =============== Irwin, Such a loan might not be possible if it violates CA’s anti-predatory loan laws, especially in getting over the “capacity to repay” requirements. Follow Ups: Re: Need to consider the strictures of anti-predatory loan rules... Irwin(CA) 2:25 PM, 03/21/04 (3) Re: Need to consider the strictures of anti-predatory loan rules... jenv 2:17 AM, 03/23/04 (2) Re: Need to consider the strictures of anti-predatory loan rules... whyK 7:56 PM, 03/30/04 (1) Re: Need to consider the strictures of anti-predatory loan rules... jenv 11:52 PM, 03/30/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : whyK, : : Have you considered loaning the homeowner sufficient cash to reinstate the defaulted loan? That way you can foreclose if payments to you or the other loans aren't made. : : The loan would be made through a real estate broker and include a shared appreciation (or shared equity) provision and have a 3-5 year due date. : : It seems to me that this has all the benefits of your plan but avoids having to "partner" with the homeowner. : : Just thinking out loud. : : Irwin : =============== : Irwin, : Such a loan might not be possible if it violates CA’s anti-predatory loan laws, especially in getting over the “capacity to repay” requirements. 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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