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Question about TD

Posted by jom-CA on February 26, 2004 at 9:27 AM

There is a property I'm researching and along with a trust deed there are a couple of riders. One is a Adjustable Rate rider...no problem there. The other is something called a "1-4 Family Rider". In it there are a couple of things that I'm not sure about:

1) It says the "Borrowers right to reinstate" is deleted from the original TD

2) It also says the "Borrowers occupancy" section is also deleted.

I'm guessing this has something to do with the lender knowing the owner will be renting this place out BUT what's with the "right to reinstate" being deleted? What does that mean?

Thanks again, Ward.

jom


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