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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: I find it baffling too. Posted by Ward-CA- on December 18, 2001 at 6:41 AM In Reply to: Ward, please enlighten me. posted by john on December 17, 2001 at 11:50 AM : I asked a question a few months back about a situation I am. Here it is in a nutshell. My condo was auctioned by my HMA in Texas. The new owners tried to deal with me to buy it back from them. I decided that this was a bad deal, so I took the overage and moved on. Fast forward 3 months. The condo is up for auction in early Jan. because the primary is forclosing. Which is to be expected since I didn't pay them any more. I get a phone call from the new owners. They want me to help them re-instate the loan. My question is, why can't they do this themselves. Why should I help them. Is my credit already screwed? I can see a benefit to having the house not go to auction, as I believe it will prevent such things as a deficiency, and possibly some tax problems. But why is this a good deal for them, beyond the obvious potential wipe-out in the auction. Is there some reason that they as the new owners need my help to re-instate? =?=?=?=?=?=?=?=?=?=?= John, I guess when you say the current owners want your help to reinstate the senior lien, you mean that they want some money from you? I can hardly believe they would ask you for a handout, seeing that you are the one who lost the property at the auction! They have got to think you?re nuts because you don?t even the tiniest obligation to assist anyone on a property you no longer own. In your own apt words, your ?...credit is already screwed?. My only guess as to why the new owners are asking you for help is that in their minds it is worth a try?but so is writing a letter to Santa. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I asked a question a few months back about a situation I am. Here it is in a nutshell. My condo was auctioned by my HMA in Texas. The new owners tried to deal with me to buy it back from them. I decided that this was a bad deal, so I took the overage and moved on. Fast forward 3 months. The condo is up for auction in early Jan. because the primary is forclosing. Which is to be expected since I didn't pay them any more. I get a phone call from the new owners. They want me to help them re-instate the loan. My question is, why can't they do this themselves. Why should I help them. Is my credit already screwed? I can see a benefit to having the house not go to auction, as I believe it will prevent such things as a deficiency, and possibly some tax problems. But why is this a good deal for them, beyond the obvious potential wipe-out in the auction. Is there some reason that they as the new owners need my help to re-instate? : =?=?=?=?=?=?=?=?=?=?= : John, I guess when you say the current owners want your help to reinstate the senior lien, you mean that they want some money from you? I can hardly believe they would ask you for a handout, seeing that you are the one who lost the property at the auction! : They have got to think you?re nuts because you don?t even the tiniest obligation to assist anyone on a property you no longer own. In your own apt words, your ?...credit is already screwed?. : My only guess as to why the new owners are asking you for help is that in their minds it is worth a try?but so is writing a letter to Santa. 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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