SD R
Right now we don’t know all the details of the repurchase agreement. What we do know is that after the trustee sale the First Bank with the larger note around 80% of the purchase price in 2006 did buy it back and the deed did go to them …however they arranged the repurchase agreement that would happen after a January 15th with the Second bank automatically holding the smaller note in a mutual agreement after the trustee sale. It appears that those involved at the asset management and the First bank forgot about this date of expiration and our loan docs now sit in limbo…
The second bank as part of this agreement was signed over as beneficiary of deed or something like that?
This has been the most amazing part of our situation as you know we moved into this home as renters and now we got all the way to the end ……and now two banks are at odds with our purchase agreement caught in the middle…..I’m really in disbelief
But hey I’m still not paying anything at the end of the month…so it isn’t that bad!! lol
