Posted by Lynn on October 31, 2000 at 06:47:29:
Don’t worry. We have done it dozens of times and NEVER had a problem. The people you talk to when getting the reinstatment figures will not be the same ones who get the checks. If you are real worried about it, buy a cashiers check and make it “from” the seller.
Happy Investing!
Lynn
foreclosure-letter of authorization - Posted by cheryl
Posted by cheryl on October 31, 2000 at 01:30:34:
ok, please help me understand this…i am confused…i have a signed contract on a pre-foreclosure…i am taking it subject to…i fax a letter of authorization to the lender to get the reinstatement figures so that i can pay the delinquent payments and take over the loan as beneficiary in trust agreement…well, while the mortgage co has my name and fax no and me wanting figures, isnt that going to alert them when i start making payments that i am now the new owner, therefore violating due on sales clause? please i need to know asap…thanks…cheryl
Re: foreclosure-letter of authorization - Posted by Marty Weisberg
Posted by Marty Weisberg on October 31, 2000 at 07:40:08:
Cheryl,
I have done that numerous times without a problem. If you are concerned (or even if you are not) you should take a look at the PACTrust. The PACTRust is done with full disclosure and legally avoids the DOS.
Marty