Re: Re: Re: Re: Re: Dovenmuehle doesn't want to fill out paperwork for reaffirm.

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Posted by: ang on 03/22/07:

In Reply to: Re: Re: Re: Re: Dovenmuehle doesn't want to fill out paperwork for reaffirm. posted by: JoBob on March 22, 2007 at 13:14:16:

Our attorney told us to look up that "assignment of rents" clause too and it wasn't there either, but the attorney also told us
to keep collecting rent because the Trustee won't be too happy to hear we aren't collecting it. She said she's heard a
Trustee ask people "You're broke, you have NO money, you CAN collect money, why aren't you". She said to NOT
give him a reason to question, so we're still collecting rent. Well, when we can anyway, we have horrible renters.

Angela

: I found out it's a matter of who you ask- but the note for the loan also may have a provison called 'assigment of rents' along with the deed. That means all rents collected belong to the lender. Yours must not, else they would want that money. One of mine does not mention rents, and another says that 'all rents become the property of the note holder, but only after the borrower has been advised of default'. Weird that your lender would tell you not to give them the rent. If and when my time comes, I will inform the tenat to save their money because by that time I will no longer pay the shortage on the mortgage, so there's be no reason for them to pay their share by rent. Maybe by then some news will be common to the procedure, since foreclosures are set to skyrocket?


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