Update, Major Problem With Note I Hold! - Posted by Jack-NY

Posted by Jack-NY on April 12, 2000 at 10:16:19:

Thanks for all the response on my problem. Yesterday I spoke to the first mortgage holder for an update. They made note that they have not received payments in two months, they have made several phone calls, and nothing from the owners. They will be sending a letter out, and starting the forecloseure process.

I stated that the buyers are unhappy with the house and claim there is structural problems, why is it that the buyers waited five months to claim a problem, this was the question of the first note holder.

In looking over my paperwork I located a clause in the original contract under condition of premises: "buyer agrees to accept the property in it’s PRESENT “AS-IS"CONDITION” maybe this is just buyer’s remorse, will have to wait and see. Thanks…