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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Bringing a loan current... Posted by Ward-CA- on April 11, 2003 at 3:52 PM In Reply to: reinstating loan posted by Rudy on April 11, 2003 at 3:36 PM : As one intending to buy from an owner before the TD sale, then rehab, then re-sell, what is the best protocol for getting reinstatment figures (the seller has already signed an authorization to release information)? : -Should I simply call up as a "friend" of the seller, or use my company name, and then get them to fax me the figures? : -After getting the figures, does it matter what form payment is in, i.e., can it be a check from me, or my company, or should it be a cashiers check, etc.? : -Rehab is pretty extensive,...may take 3 or 4 months, so I'm a little nervous about the lender exercising the due on sale clause. : -Anything else I'm not considering? =?=?=?=?=?=?=?=?=?=?= Rudy, Call the lender and ask for their reinstatement department. Have the loan number handy and ask the service rep for the amount necessary to reinstate. Ask what form it must be in, the mail-in address and to who?s attention, etc. Be ready to fax them your disclosure authorization if it is requested. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : As one intending to buy from an owner before the TD sale, then rehab, then re-sell, what is the best protocol for getting reinstatment figures (the seller has already signed an authorization to release information)? : : -Should I simply call up as a "friend" of the seller, or use my company name, and then get them to fax me the figures? : : -After getting the figures, does it matter what form payment is in, i.e., can it be a check from me, or my company, or should it be a cashiers check, etc.? : : -Rehab is pretty extensive,...may take 3 or 4 months, so I'm a little nervous about the lender exercising the due on sale clause. : : -Anything else I'm not considering? : =?=?=?=?=?=?=?=?=?=?= : Rudy, : Call the lender and ask for their reinstatement department. Have the loan number handy and ask the service rep for the amount necessary to reinstate. Ask what form it must be in, the mail-in address and to who?s attention, etc. Be ready to fax them your disclosure authorization if it is requested. 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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