Posted by Jack March on October 31, 2008 at 11:41:29:
You said payments to Chaffa are up to date, are you sure??
I took a property Subject To NEED HELP - Posted by Matt T
Posted by Matt T on October 23, 2008 at 07:07:07:
I recently closed on a singlewide trailer purged to the land for 77,500 paying
the seller 12,500 down and leaving 65,000 outstanding which is owed to Chaffa.
Yesterday I went to the property to continue my repairs and a company called
Safe Guard Properties had kicked the door window in, changed the lock on one
of the doors(placing a lock box on the door). They placed stickers on all the
valves stating they had winterized the property. I called Safe Guard and they
told me they were sent out to protect the interest of the mortgagee. I am very
concerned if they will call the loan due? The Payments are up to date why Chaffa
is attempting to take possession? Should I be attempting to arrange financing to
pay off Chaffa? Can I call Chaffa to discuss this situation or will this trigger
them to call loan due?
Homework - Posted by DJ-nyc
Posted by DJ-nyc on October 24, 2008 at 13:29:18:
Did you do yours? Contact Chaffa (immediately), title company and get control of what liens are on the property. You are in for 12.5k and its your responsibility now if you took title.
DJ-nyc
Re: Homework - Posted by Matt T
Posted by Matt T on October 24, 2008 at 14:04:05:
I did take title and the only lien on the property is chaffa if I contact them
what should I tell them and if I contact them will it trigger the due on sale
clause?
Thanks Matt
Re: Homework - Posted by DJ-nyc
Posted by DJ-nyc on October 24, 2008 at 14:38:22:
are you still cool with the previous owner? I would do a conference call (me being silent) and have him get them to keep the loan active and you make the back payments in an agreement of some sort. Or have him do a borrower’s authorization so you can speak on behalf of him.
DJ-nyc