Mortgage..no way to foreclose?

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Posted by EJ on May 29, 2004 at 20:51:09:
Hi .. I'm certainly sure I'll find an answer here.
I'm negotiating to buy a mortgage ..
I cannot find the borrower to give Estoppel letter to!!
I cannot see that the mortgage has any "default" contingency .. could this be on the note?
If they (Seller of mortgage) have Lost the original note and has no copy ..then what?
If the Borrower has never paid a bean and the seller cannot foreclosure ..then what?
All ideas greatfully accepted.
EJ

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Need to read the documents carefully... Michael Morrongiello 20:49:53 5/30/2004 (0)

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