In article ltlSa.110139$Io.9432049
@newsread2.prod.itd.earthlink.net, posted Sun, 20 Jul 2003
00:35:29 GMT, Gold Lexus says...
:"Rent" is set up to be paid at closing.
:So yes and no. We are not paying anything now but it will be handled thru'
:escrow at closing.

Yet your friend is suffering so terribly, is about to have
a foreclosure on her house that will affect her credit
rating for seven years, and you are so concerned about her.
If you had paid her rent, so that she could continue paying
the mortgage until closing, you wouldn't be in such a
bizarre situation. Escrow won't help pay back mortgage
payments since February.

You must be trolling here. If not, then who is more stupid,
you, or your friend?

:"Kali" wrote in message
t...
: In article NTkRa.5420$Mc.460603
: @newsread1.prod.itd.earthlink.net, posted Wed, 16 Jul 2003
: 23:06:21 GMT, Nikkie Adams says...
: :We are in a some what unusual situation right now. We are purchasing my
: :bestfriends home.
: :We have all our financing approved and were ready to close when our
:friend
: :found out that
: :they are $10,000 short of a total pay off of the 1st and 2nd Mortgage.
:Sooo
: :they tried to get
: :a loan to cover all costs but due to sever financial troubles and their
: :business (self employed) going belly up no
: ne will give them the loan. They since have started proceedings to have
:the
: :2nd mortgage lien transfered
: :to their current home but it is taking a long time. In the meantime they
: :stopped making Mortgage payments
: n the house we are buying. They did talk it over with their bank sent
:them
: :the Sale Contract and our loan
: :Approval letter to them to show our intent to purchase. In the meantime
:we
: :have moved into the home and
: :are waiting for this transfer process to happen. Let me back up some we
:had
: :to sell our home to make this
: urchase. Our friends held onto this house 8 months so we can buy it(yes
:it
: :took us 8 months to sell)
: :. They made payments up to Feb 1, 2003 then stopped making payments due
:to
: :financial and health issues.
: :We sold our home in April and signed an Agreement to Purchase and
:deposited
: :Earnest Money in April for the house we are buying.
: :It is in April my friend notified the first mort. holder of the
:aggreement,
: :sent in the Sales Contract and our Loan Approval letter.
: :We closed on our home in May. Obviously, we had to move and being as we
:were
: :buying our bestfriends house and it was empty
: ur friends gladly gave us the key and had us move in.
: :Here we are in the middle of July we just got a foreclosure notice. The
: :house will be up for Auction on
: :Nov. 21, 2003. My friend called her mortgage company to find out what it
: :meant for the pending sale
: :they said as long as all debt was paid by Nov. 21 we were fine.
: :We do now have a closing date of Sept. 1st but there are other potential
: roblems lurking (IRS).
: :Would it be a good idea to have our friend pursue a Short Sale? We do not
: :want to loose this home!
: :It is our dream home.
: :I have a call into an Attorney for legal advice. I don't fully understand
: :what a Short Sale is all about.
: :I do realize to take advice from a newsgroup with a grain of salt. Just
: :curious what some might do
: :if they were in the same boat.
: :Thanks!
:
: Are you living there mortgage payment/rent free? Something
: doesn't jive here.
:
: Kali

:

--
Troika Woman!