Re: No Positive Cash Flow in California - Posted by A.C.
Posted by A.C. on August 21, 2001 at 14:03:45:
Yes-If you replied, what would happen? Would you just pay on the existing note? Would a new process be put into place? Would they be expecting complete payment of the loan without possibility of negotiation? What would happen?
The link works with the information you provided. It appears wonderful. I only browsed through it, briefly to see if I could access it. Thank you!
Re: No Positive Cash Flow in California - Posted by JohnBoy
Posted by JohnBoy on August 21, 2001 at 14:22:47:
You can either try and work something out or just tell them to go pound sand!!!
If they say they will foreclose, you could say, go for it! Meanwhile I’ll quit making the payments and you can take your chances on what condition the property will be in by the time you get through the foreclosure process. Basically, you can call them on it and then see if they do anything. They may yell and scream, but when push comes to shove it’s unlikely they will follow through IF the payments are current and being made on time. If you mess up on the payments then they may determine it’s worth going after.
If you have the ability to pay them off or refinance then wait until they make a move to enforce it and then go refinance to pay them off.
If you don’t have the ability to refinance then you won’t have much choice but to ignor them and see if they follow through. If they follow through then put the property on the market and get it sold before the time it takes to foreclose in your state.