Reinstatement Process - Loan Modification Forum

lastminuteman · 10-08-2009, 08:16 PM

I have received a reinstatement amount from USBank over the phone. I plan on having the money ready on the 13th and the Trustee Sale is scheduled for the 22nd.

I will be deliverring the cashiers check to them personally.

I am wondering what paperwork should I demand in return for my payment to insure my house is off the auction?

The process thay laid out over the phone is:
1. I provide certified funds.
2. They suspend the foreclosure with the trustee.
3. After 3-4 days, when the funds clear, the loan is flagged current and monthly payments resume.

Does this sound right. With this process it only give about two days before sale date to finish.

Even with the paperwork, I still plan on attending the auction to make sure the listing was removed.

Thank You Very Much.

dan m · 10-08-2009, 09:12 PM

a receipt??

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lastminuteman · 10-09-2009, 08:54 AM

Funny Dan,

Yes, at a minimum I would hope that they give me a receipt stating that they received the funds.

I was just hoping they would something more concrete at the time I hand them the check.

Something stating that the sale will be cancelled, suspended or something.

10-08-2009, 08:16 PM	#1 (permalink)
lastminuteman Member Join Date: Oct 2009 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Reinstatement Process I have received a reinstatement amount from USBank over the phone. I plan on having the money ready on the 13th and the Trustee Sale is scheduled for the 22nd. I will be deliverring the cashiers check to them personally. I am wondering what paperwork should I demand in return for my payment to insure my house is off the auction? The process thay laid out over the phone is: 1. I provide certified funds. 2. They suspend the foreclosure with the trustee. 3. After 3-4 days, when the funds clear, the loan is flagged current and monthly payments resume. Does this sound right. With this process it only give about two days before sale date to finish. Even with the paperwork, I still plan on attending the auction to make sure the listing was removed. Thank You Very Much.

10-08-2009, 09:12 PM	#2 (permalink)
dan m Senior Member Join Date: Aug 2009 Location: Manteca- California Posts: 134 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Reinstatement Process a receipt??---------------------- __________________ A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government. — George Washington

10-09-2009, 08:54 AM	#3 (permalink)
lastminuteman Member Join Date: Oct 2009 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Reinstatement Process Funny Dan, Yes, at a minimum I would hope that they give me a receipt stating that they received the funds. I was just hoping they would something more concrete at the time I hand them the check. Something stating that the sale will be cancelled, suspended or something.

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