Altus, OK · Member since 2008 · 2k+ posts · 690 votes
16y
Wow I'm shocked NOT.
Doesn't surprise me that big banks are doing this they are getting desperate each time.
What gets me is that why can't they negotiate with either investors,owners or 1st lien holders for some sort of payoff that isn't off the HUD. They should know that being in 2nd position their chances of losing everything is very high during a foreclosure situation.
I think everyone is 2nd lien position who gets into this position have a backup plan that's legal prior to getting into this.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
16y
You know how everytime you call a bank and before you talk to a real person there is the recording "this call may be monitored or recorded to ensure quality service" well, we all know it's a CYA and we have you on tape making threats....well, in many states, the recording is not necessary, where I am, only one party needs to be aware that the converation is recorded. Diuring that recording, if you can work in something like "well, what ever we talk about here is public knowledged" you just gave notice.
Why does the fun stuff always happen to the other guy and not me? I'm always left out. If they hit me with that I'd tell them they were going to approve the deal and knowck off another grand just for smiles or we'll ask that the entire principal amount be forgiven. That's what it could end up being if they are caught. Bill