Posted by John Behle on August 16, 2006 at 15:42:58:
In Reply to: Structuring a junior loan for a homeowner in her REO home posted by Dean Engle on July 25, 2006 at 02:29:49:
People that enter into foreclosure or are foreclosed on do it again. It's usually more than just circumstances, but a mindset and set of beliefs or habits.
The white knight that saves them quickly turns into the thief that robbed them. Lenders look at "Ability and Desire". She may indeed have the ability, but fails in the area of desire. The fact that she stopped payments because "her new lender wasn't licensed as a lender in VA" says to me she is difficult to put it kindly. Nutcase would be more appropriate. I would not want to enter into a deal with her. It will just end up as another foreclosure, bankruptcy and lots of costs.
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