Beneficiary Question (foreign) HELP
Has anyone ever dealt with a beneficiary on a foreclosure that is in Mexico? Does anyone have any clue on just how do I deal with that if and when I can convince the seller to sell?
Has anyone ever dealt with a beneficiary on a foreclosure that is in Mexico? Does anyone have any clue on just how do I deal with that if and when I can convince the seller to sell?
Yip, we did one with a nice man who went back to Iran.
You deal with the Trustee in Foreclosure and you may even reach the point where you handrun your Cashiers Check direct to him. You know he got an original instruction at the begining of the Foreclosure and you can make the assumption that if you service that amount you are home free and the Trustee will issue a Full Reconvayance and the dastardly deed is gone.
A common trick is for the Bene to go hid he thinks in that way he can effect a foreclosure sale at the end of which he will be the winning bidder. Never happen. Some Bene's start postponing sales. The answer is just tender into them.
In times gone by I have done just that and had the bank that was giving me my new lst trust deed loan also give me a bridge loan so I could make the full tender to payoff the foreclosure. Took a little talking and the promise of business to the bank for the next 1,000 years. So I lied. Might make a 100.
Lucius 8-)
Thank you Lufos for your most informative reply.
Quote:
On 2004-03-29 01:54, Lufos wrote:
Yip, we did one with a nice man who went back to Iran.
You deal with the Trustee in Foreclosure and you may even reach the point where you handrun your Cashiers Check direct to him. You know he got an original instruction at the begining of the Foreclosure and you can make the assumption that if you service that amount you are home free and the Trustee will issue a Full Reconvayance and the dastardly deed is gone.
A common trick is for the Bene to go hid he thinks in that way he can effect a foreclosure sale at the end of which he will be the winning bidder. Never happen. Some Bene's start postponing sales. The answer is just tender into them.
In times gone by I have done just that and had the bank that was giving me my new lst trust deed loan also give me a bridge loan so I could make the full tender to payoff the foreclosure. Took a little talking and the promise of business to the bank for the next 1,000 years. So I lied. Might make a 100.
Lucius 8-)