[MrsKryten]

[quote=DataAgent]How is this extortion? The 2nd lender has legal rights to the property. They are offering to release those rights at a discount to the owed amount. Sounds like you’re getting a good deal.[/quote]

If I can buy the house with all payments documented as part of the sale, then it’s all good. My concern is that the 2nd lender wants an undisclosed payment, and that is illegal. I’m going to snap out of the negative thinking for now until I find out the details on Monday.

[MrsKryten]

[quote=DataAgent]How is this extortion? The 2nd lender has legal rights to the property. They are offering to release those rights at a discount to the owed amount. Sounds like you’re getting a good deal.[/quote]

If I can buy the house with all payments documented as part of the sale, then it’s all good. My concern is that the 2nd lender wants an undisclosed payment, and that is illegal. I’m going to snap out of the negative thinking for now until I find out the details on Monday.

[MrsKryten]

[quote=DataAgent]How is this extortion? The 2nd lender has legal rights to the property. They are offering to release those rights at a discount to the owed amount. Sounds like you’re getting a good deal.[/quote]

If I can buy the house with all payments documented as part of the sale, then it’s all good. My concern is that the 2nd lender wants an undisclosed payment, and that is illegal. I’m going to snap out of the negative thinking for now until I find out the details on Monday.

[MrsKryten]

[quote=DataAgent]How is this extortion? The 2nd lender has legal rights to the property. They are offering to release those rights at a discount to the owed amount. Sounds like you’re getting a good deal.[/quote]

If I can buy the house with all payments documented as part of the sale, then it’s all good. My concern is that the 2nd lender wants an undisclosed payment, and that is illegal. I’m going to snap out of the negative thinking for now until I find out the details on Monday.

[MrsKryten]

[quote=DataAgent]How is this extortion? The 2nd lender has legal rights to the property. They are offering to release those rights at a discount to the owed amount. Sounds like you’re getting a good deal.[/quote]

If I can buy the house with all payments documented as part of the sale, then it’s all good. My concern is that the 2nd lender wants an undisclosed payment, and that is illegal. I’m going to snap out of the negative thinking for now until I find out the details on Monday.

[MrsKryten]

[quote=SD Realtor]

It is in all likelihood legit…. When you close escrow, where all the money went will be on the HUD report including which lender got what monies.

************

Unfortunately I do not believe anyone has defrauded you in any manner.[/quote]

Thanks, SD Realtor, for the real world explanation and advice. I hope you’re right that the 2nd lender’s intentions are legit and everything will be on the HUD statement. Dealing with the seller’s agent (one of these “short sale experts”) has not always been easy during this past year so my mind went to the worst case scenario. I will know more on Monday morning but will try to keep positive until then.

As for the fraud issue…if the money paid to the 2nd lender is undisclosed, I believe that it’s the 1st lender that would be the party being defrauded, not me, and that they can cancel the sale or sue all parties for damages. I would be one of the bad guys under this scenario which is why my agent and I won’t be involved unless the money is fully disclosed to the 1st lender.

[MrsKryten]

[quote=SD Realtor]

It is in all likelihood legit…. When you close escrow, where all the money went will be on the HUD report including which lender got what monies.

************

Unfortunately I do not believe anyone has defrauded you in any manner.[/quote]

Thanks, SD Realtor, for the real world explanation and advice. I hope you’re right that the 2nd lender’s intentions are legit and everything will be on the HUD statement. Dealing with the seller’s agent (one of these “short sale experts”) has not always been easy during this past year so my mind went to the worst case scenario. I will know more on Monday morning but will try to keep positive until then.

As for the fraud issue…if the money paid to the 2nd lender is undisclosed, I believe that it’s the 1st lender that would be the party being defrauded, not me, and that they can cancel the sale or sue all parties for damages. I would be one of the bad guys under this scenario which is why my agent and I won’t be involved unless the money is fully disclosed to the 1st lender.

[MrsKryten]

[quote=SD Realtor]

It is in all likelihood legit…. When you close escrow, where all the money went will be on the HUD report including which lender got what monies.

************

Unfortunately I do not believe anyone has defrauded you in any manner.[/quote]

Thanks, SD Realtor, for the real world explanation and advice. I hope you’re right that the 2nd lender’s intentions are legit and everything will be on the HUD statement. Dealing with the seller’s agent (one of these “short sale experts”) has not always been easy during this past year so my mind went to the worst case scenario. I will know more on Monday morning but will try to keep positive until then.

As for the fraud issue…if the money paid to the 2nd lender is undisclosed, I believe that it’s the 1st lender that would be the party being defrauded, not me, and that they can cancel the sale or sue all parties for damages. I would be one of the bad guys under this scenario which is why my agent and I won’t be involved unless the money is fully disclosed to the 1st lender.

[MrsKryten]

[quote=SD Realtor]

It is in all likelihood legit…. When you close escrow, where all the money went will be on the HUD report including which lender got what monies.

************

Unfortunately I do not believe anyone has defrauded you in any manner.[/quote]

Thanks, SD Realtor, for the real world explanation and advice. I hope you’re right that the 2nd lender’s intentions are legit and everything will be on the HUD statement. Dealing with the seller’s agent (one of these “short sale experts”) has not always been easy during this past year so my mind went to the worst case scenario. I will know more on Monday morning but will try to keep positive until then.

As for the fraud issue…if the money paid to the 2nd lender is undisclosed, I believe that it’s the 1st lender that would be the party being defrauded, not me, and that they can cancel the sale or sue all parties for damages. I would be one of the bad guys under this scenario which is why my agent and I won’t be involved unless the money is fully disclosed to the 1st lender.

[MrsKryten]

[quote=SD Realtor]

It is in all likelihood legit…. When you close escrow, where all the money went will be on the HUD report including which lender got what monies.

************

Unfortunately I do not believe anyone has defrauded you in any manner.[/quote]

Thanks, SD Realtor, for the real world explanation and advice. I hope you’re right that the 2nd lender’s intentions are legit and everything will be on the HUD statement. Dealing with the seller’s agent (one of these “short sale experts”) has not always been easy during this past year so my mind went to the worst case scenario. I will know more on Monday morning but will try to keep positive until then.

As for the fraud issue…if the money paid to the 2nd lender is undisclosed, I believe that it’s the 1st lender that would be the party being defrauded, not me, and that they can cancel the sale or sue all parties for damages. I would be one of the bad guys under this scenario which is why my agent and I won’t be involved unless the money is fully disclosed to the 1st lender.

[MrsKryten]

Thanks, SD Realtor, for the helpful info. Yeah, I have been told that there are a couple offers in already and it’s probably in the 480 range. I do prefer the other side of the 78 such as Discovery Hills but haven’t seen a house available with the sq. ft. and privacy we want.

We’re going to see the SFH house today. I agree that it may be unwise to buy now but I really, really like the features of this house and its surroundings. Buying now may not be smart, but I’m not so sure its stupid either. 🙂 We may be too late on this anyhow and if it doesn’t happen, we will probably wait a little longer before making a purchase.

Thanks, again, for your insight!

[MrsKryten]

Thanks, SD Realtor, for the helpful info. Yeah, I have been told that there are a couple offers in already and it’s probably in the 480 range. I do prefer the other side of the 78 such as Discovery Hills but haven’t seen a house available with the sq. ft. and privacy we want.

We’re going to see the SFH house today. I agree that it may be unwise to buy now but I really, really like the features of this house and its surroundings. Buying now may not be smart, but I’m not so sure its stupid either. 🙂 We may be too late on this anyhow and if it doesn’t happen, we will probably wait a little longer before making a purchase.

Thanks, again, for your insight!

[MrsKryten]

Thanks, SD Realtor, for the helpful info. Yeah, I have been told that there are a couple offers in already and it’s probably in the 480 range. I do prefer the other side of the 78 such as Discovery Hills but haven’t seen a house available with the sq. ft. and privacy we want.

We’re going to see the SFH house today. I agree that it may be unwise to buy now but I really, really like the features of this house and its surroundings. Buying now may not be smart, but I’m not so sure its stupid either. 🙂 We may be too late on this anyhow and if it doesn’t happen, we will probably wait a little longer before making a purchase.

Thanks, again, for your insight!

[MrsKryten]

Thanks, SD Realtor, for the helpful info. Yeah, I have been told that there are a couple offers in already and it’s probably in the 480 range. I do prefer the other side of the 78 such as Discovery Hills but haven’t seen a house available with the sq. ft. and privacy we want.

We’re going to see the SFH house today. I agree that it may be unwise to buy now but I really, really like the features of this house and its surroundings. Buying now may not be smart, but I’m not so sure its stupid either. 🙂 We may be too late on this anyhow and if it doesn’t happen, we will probably wait a little longer before making a purchase.

Thanks, again, for your insight!

[MrsKryten]

Thanks, SD Realtor, for the helpful info. Yeah, I have been told that there are a couple offers in already and it’s probably in the 480 range. I do prefer the other side of the 78 such as Discovery Hills but haven’t seen a house available with the sq. ft. and privacy we want.

We’re going to see the SFH house today. I agree that it may be unwise to buy now but I really, really like the features of this house and its surroundings. Buying now may not be smart, but I’m not so sure its stupid either. 🙂 We may be too late on this anyhow and if it doesn’t happen, we will probably wait a little longer before making a purchase.

Thanks, again, for your insight!

[Author]

Posts