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california civil code 2823.6

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Cappeet Guest	Posted: Tue Nov 18, 2008 5:06 pm    Post subject: california civil code 2823.6 Like 0 Dislike 0 Does this apply to seller carry back? Private party beneficiary? We owe $400,000 and our home is worth $225,000. I have been trying to keep my payments up, but having difficulty. After only one 30 day late, he started foreclosure proceedings and I now owe the attorney fees on top of my late fee. I just caught him up, but am again, late and will be behind 30 days on Dec. 1. please help if you know the answer. thank you _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Tue Nov 18, 2008 11:48 pm    Post subject: Like 0 Dislike 0 Hi Cappeet! As far as I know about the law, it does not support owner financing. I think you should try and negotiate with the owner. Moreover, you must be having some agreement papers. Go through them and check when the owner can start the foreclosure proceedings. Thanks.
richie Guest	Posted: Mon Jan 26, 2009 8:11 am    Post subject: I am a private money lender Like 0 Dislike 0 Last year I loaned a a borrower $200,000 as a second trust deed. She promised to pay it back in one year (Jan 1, 2009). It is now due and payable. I was willing to extend the loan etc. but she quickly hired an attorney and is in the process of laying out a loan modification for his client (my borrower). what are my rights, if any? thanks
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue Jan 27, 2009 12:03 am    Post subject: Like 0 Dislike 0 Welcome richie, Loan modification is offered when the borrower is facing a hardship and is unable to pay the mortgage dues. As a private lender, if you are interested in giving a loan modification to your borrower, then you can accept her loan modification request. _________________ Procrastination is the enemy of your financial success
Mason Guest	Posted: Thu Jun 04, 2009 5:28 pm    Post subject: Late fees Like 0 Dislike 0 Can I foreclose on my loan if I do not receive my late fees when I have contacted the borrower to tell them the payments are coming late?
savior70 Joined: 25 Mar 2009 Posts: 1895 Location: Florida 261.84 Dollars($)	Posted: Sat Jun 06, 2009 6:34 am    Post subject: Like 0 Dislike 0 Hi Are you doing an owner financing and your borrower has been late on his/her payments? You can foreclose on the property, but it'll involve quite an amount of court fees, attorney fees and other associated costs. It may not be worth your while spending too much money to do the foreclosure at this point in time. Instead, I think you discuss this with your borrower and find out the cause of their late payments. If they have been facing any financial hardship, you can perhaps modify the terms of the loan, reduce their monthly payments to some extent so as to help them be current on the loan.
JesseG2 Guest	Posted: Fri Feb 04, 2011 2:35 pm    Post subject: CA mortgage modification law Like 0 Dislike 0 Under CA law, is the 2nd lein holder on a residential property required to do a loan modification if the 1st lein holder is already doing a loan modification?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Sun Feb 06, 2011 10:27 pm    Post subject: Like 0 Dislike 0 Welcome JesseG, It is not mandatory for the second lien holder to modify the loan if the first lender has modified the first loan. _________________ Procrastination is the enemy of your financial success

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