Posted by Nate(DC) on February 24, 2002 at 11:13:14:
I don’t know what State the property is in, either. Merely pointing out that the original poster ought to investigate this before assuming it’s a viable strategy in this particular case.
NT
Foreclosure Closing DISASTER!! HELP - Posted by RossD
Posted by RossD on February 23, 2002 at 05:42:28:
Had closing set up yesterday where owners who are facing forclosure were going to sign over deed to me and get $100 each. Problem is they are seperated and had custody hearing the day before closing and the wife refused to show up and sign after the custody did not go her way. Husband showed up and signed, but wife said she wasn’t coming and did not care about the foreclosure or the credit problem she will have. The home is 160-170, payoff with penalties is 118K, have loan set up for 130 w/ 10k at closing back to me for fixup. Any suggestions on how to get her to sign? She seems bent on messing up her husbands credit even if it ruins hers too. Thank you for any and all suggestions.
Re: Foreclosure Closing DISASTER!! HELP - Posted by JD
Posted by JD on February 23, 2002 at 13:42:34:
If your efforts to get her to sign fail; What I would do would vary somewhat based upon your State laws. Most likely I would cure the foreclosing loan. Create a 2nd Deed of Trust for $20,000 payable to another Corp. that I owned. Then foreclose on the that 20k DOT.
Re: Foreclosure Closing DISASTER!! HELP - Posted by Utah Investor
Posted by Utah Investor on February 23, 2002 at 08:06:36:
Remember you are in the People business, not the Real Estate business.
People have pain/problems. You are there to resolve those with solutions. Money talks but that is not the answer most of the time.
What are other ways to resolve her pain? What other problems does she have?
Once, I paid the first & last rent payments for a divorced wife, and 3 months of rent so give her a fresh start, other times, paid to fix a broken car she had.
Offer to pay her attorney bill to get more advice, offer to pay a private investigator to check out her husband, offer to buy a new refrigerator for her place.
Provide solutions to problems, release her pain, and she will give you the house.
Create a win-win for her, and you will have your house.
Best Regards,
Utah Investor
Re: Foreclosure Closing DISASTER!! HELP - Posted by phil fernandez
Posted by phil fernandez on February 23, 2002 at 07:27:02:
I’d offer her more money. At some point the amount of money that you offer her will be incentive enough for her to sign.
Re: Foreclosure Closing DISASTER!! HELP - Posted by Tobey
Posted by Tobey on February 23, 2002 at 05:50:25:
pay her enough to make it worth her while. if someone offered me $100 so they could make $40K, I would be so angry the things i would want to say aint fit for mixed company.
if you treat them right, and giver them the money to move and start over, they will cooperate. who cares about saving credit when someone is trying to dance on your grave? How could you only offer $100? Most guys spend that on drinks before dinner.CHEEP!CHEEP!
That might not work… - Posted by Nate(DC)
Posted by Nate(DC) on February 24, 2002 at 24:00:28:
Depending on how they hold title, you may not be able to put a second on the house without both parties signing. If you can’t get her to sign a deed, what makes you think she’ll sign a deed of trust?
NT
Re: Foreclosure Closing DISASTER!! HELP - Posted by GL(ON)
Posted by GL(ON) on February 23, 2002 at 10:30:05:
Money doesn’t seem to be the issue. She wasn’t money motivated before and she isn’t now.
All I can suggest is talk to he and bring her around to liking you. I have no idea how to do this. But if you can get her on your side she will sign. Logic and money has nothing to do with it.
Re: That might not work… - Posted by JD
Posted by JD on February 24, 2002 at 24:12:59:
I don’t know what State the property is in, let alone what the laws are in that State. In my State (and I believe this is true for most States) one Joint Tennant can encumber a property with a DOT, without the consent or signature of any of the other joint tennants.