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i think the only way to maximize the profit is to pay off the amount of the home equity loan upfront .... my reasoning, and I think this is correct ... if the 1st mortgage and the home equity would be covered by a sale of the home .. they'd both be attached correct?
I assume the home equity lender offered 54 vs 108 thinking Chapter 7 ...which they wouldn't want at alll
i thought as much .........not sure if you can answer this .. but both my 1st mortgage and especially the home equity would prefer i don't allow the dc foreclosure process to go into effect .... there is a new mediation period of 180 days and its taking 3 years .... do people approach them and ask them to lower the balances to avoid such a process ....thought the foreclosure would happen due to my actions ... would they not want to save the costs and the 2nd lien holder the entire amount of a chapter 7 and may make a deal?
i plan to sit down with one ... there is no rush with the home ... DC isn't foreclosing on any homes .... the city govt put some ill advised rules in place that made all the mortgage insurers flee .. new dc law up to 180 days of mediation and if anything from the envelope being the wrong color .. can void a foreclosure ... thus the title companies and mortgage insurers have been lobbying for needed change ..... it's taking three years here now it nuts
true my homeowners association ... a building of 4 is threatening to foreclose ....do you know anything about liens?
you must actually
our condo board of 2 with our management company .. hired to run a building of 4 units ... in which the pres and trea can't explain where 50 K went ... they hired a lawyer sent me an notice to lien with acceleration letter ... the lawyer had my unit listed as the wrong number had the years wrong etc ... I don't think this matters because its just the notice.
but per our condo doc and dc gov regs ... if i ask question the total they will provide me the detail.... I questioned the entire amount based on just the the many errors in his letters which the total on page 1 didn't match page 2 ...
to my surprise he ignored my request which was signed for by his office 28 days ago - he has 10 days to respond or the lien is unenforceable .... any clue why he could be so careless
not sure if you were in different page so just c and p's
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