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<p>I had a listing a couple years ago where getting a payoff out of
the bank was extremely difficult because my client had foreclosed
out the borrower. Being the owner of the property was not good
enough for the bank to give that information out, even though we
were under contract. I finally located someone at the bank high
enough up to put pressure on the payoff department to act. I
don't think I would have succeeded if I had not represented the
owner (e.g. represented a third party).</p>
<p>I'm not sure the NTS will give you the information you need due
to subsequent charges and fees. But you could overpay to be on
the safe side. Overpaying may not matter in the long run, which
leads to the next point.<br>
</p>
<p>I'd be worried about this being a recurring problem. If the
client cannot just pay off the mortgage such as perhaps buying at
foreclosure, they could be just throwing money away if the payment
issues cannot be resolved. If there's not a long term plan I
would advise against the initial cure.<br>
</p>
<pre class="moz-signature" cols="72">Kary L. Krismer
John L. Scott, Inc.
206 723-2148</pre>
<div class="moz-cite-prefix">On 6/14/2020 2:15 PM, Erik Marks wrote:<br>
</div>
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cite="mid:F0F5799F-93F2-4ECE-870B-3CC4B90A53DB@contoso.com">
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<p class="MsoNormal"><span style="font-size:11.0pt">Client's
brother owns home with one mortgage on it, LTV of about
25%. Clearly there is significant equity. Client recently
found out the mortgage is in foreclosure, with the sale date
in late July. Client does not know why brother is neither
paying mortgage, nor dealing with the foreclosure process;
he does not talk about it. Mental health issues are
suspect, but those cannot be solved in time to stop the
sale.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Client wants
to find out cost to cure, and pay it. And thereafter make
ordinary monthly payments on the loan, until she can help
her brother get things sorted out. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">The
challenge is that client is not the borrower, and borrower
has not asked/authorized lender to work with client. So, my
question to the group is: do you think the lender (US Bank)
will cooperate to allow a 3<sup>rd</sup> Party to cure the
mortgage default? And any suggestions how to get in contact
with US Bank to discuss, other than calling in through the
1-800 front door phone lines?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Thank you
for any insights you may have. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.5pt;color:black">--
<o:p></o:p></span></p>
<p class="MsoNormal"><b><i><span
style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#4D573A">Erik
G Marks</span></i></b><span
style="font-size:10.5pt;color:#4D573A"> </span><span
style="font-family:"Times New
Roman",serif;color:#4D573A"><o:p></o:p></span></p>
<div>
<p class="MsoNormal"><b><i><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#4D573A">Attorney
at Law</span></i></b><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#4D573A">
</span><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><br>
2255 Harbor Ave SW</span><span
style="font-family:"Times New
Roman",serif;color:black"><o:p></o:p></span></p>
<div>
<p class="MsoNormal"><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black">Suite
203</span><span style="font-family:"Times New
Roman",serif;color:black"><o:p></o:p></span></p>
</div>
<div>
<p class="MsoNormal"><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black">Seattle,
WA 98126</span><span style="font-family:"Times New
Roman",serif;color:black"><o:p></o:p></span></p>
</div>
<div>
<p class="MsoNormal"><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><o:p> </o:p></span></p>
</div>
</div>
<p class="MsoNormal"><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black">office:
206-264-4598 <br>
cell: 206-612-8653<br>
<br>
</span><u><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#0000FE"><a class="moz-txt-link-abbreviated" href="mailto:erik@egmrealestate.com">erik@egmrealestate.com</a></span></u><span
style="font-size:11.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
</div>
<br>
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