"NOYB" wrote in message
ink.net...

"P.Fritz" wrote in message
...

"NOYB" wrote in message
nk.net...

"DSK" wrote in message
...
P.Fritz wrote:
Where the hell do people get ideas like that.......a secondary holder
has all the same obligations of the note....they cannot change that.

Where hell do people get ideas like that?

A mortgage buyer has no obligation whatever to the mortagee. His
contract is with the mortgage initiator. How do you think Fannie,
Ginnie, and Freddie stay in business?

In most states, they *do* have the legal obligation to tell you before
they change the terms of your mortgage. But they don't have any
obligation to stick to the original terms. Happens every day.

You're absolutely wrong. Purchasing a contract doesn't absolve the
buyer of the contract from the responsibilties that are spelled out in
the contract. When an assignment of mortgage takes place, the secondary
lender is on the hook for all of the terms of the original mortgage.
Period.

No ****, if that were true, a secondary buyer could change the interest
rate, payment due date, prepayemnt clause etc etc.

The fact is the mortagee has a contract, those terms cannot be altered by
a third party.


The rules apply whenever there's a contract. A mortgage is a contract.
My lease is a contract. When I leased my office space, I knew that there
was the likely scenario of the landlord selling it to another party. I
contacted an attorney to ensure that the new landlord couldn't buy the
building, terminate my lease, and toss me out. They can't. They must
honor the contract/lease, or provide compensation to me if they need to
alter the terms of the lease in any way.

I know of one dentist who had 4 years remaining on a lease in a building
that was sold and scheduled to be torn down. He got nearly $200k from the
building's new owner to move out of his lease space...AND sufficient time
to find a new location, build it out, and move into it.

There was an old building on a prime corner around here, a developer
bought the surrounding parcels and the building, built a nice new strip
center, but couldn't tear down the old building for several years becasue a
pizza place and a long lease.....they had orginally tried to strong arm the
guy, and when that didn't work, tried to buy him out.....at that point he
was so P.O. he basically said **** em and stayed for the remainder of his
lease.

"P.Fritz" wrote in message
...

"NOYB" wrote in message
nk.net...

"DSK" wrote in message
...
P.Fritz wrote:
Where the hell do people get ideas like that.......a secondary holder
has all the same obligations of the note....they cannot change that.

Where hell do people get ideas like that?

A mortgage buyer has no obligation whatever to the mortagee. His
contract is with the mortgage initiator. How do you think Fannie,
Ginnie, and Freddie stay in business?

In most states, they *do* have the legal obligation to tell you before
they change the terms of your mortgage. But they don't have any
obligation to stick to the original terms. Happens every day.

You're absolutely wrong. Purchasing a contract doesn't absolve the buyer
of the contract from the responsibilties that are spelled out in the
contract. When an assignment of mortgage takes place, the secondary
lender is on the hook for all of the terms of the original mortgage.
Period.

No ****, if that were true, a secondary buyer could change the interest
rate, payment due date, prepayemnt clause etc etc.

The fact is the mortagee has a contract, those terms cannot be altered by
a third party.

When I last refinanced my mortgage it was through a broker who obtained the
money from A. One of the last pieces of paper I signed at closing was that
my mortgage was sold to B. Then two weeks later my mortgage was sold to the
the company I obtained the initial mortgage from when I bought the house.

"Bert Robbins" wrote in message
...

"P.Fritz" wrote in message
...

"NOYB" wrote in message
nk.net...

"DSK" wrote in message
...
P.Fritz wrote:
Where the hell do people get ideas like that.......a secondary
holder
has all the same obligations of the note....they cannot change that.

Where hell do people get ideas like that?

A mortgage buyer has no obligation whatever to the mortagee. His
contract is with the mortgage initiator. How do you think Fannie,
Ginnie, and Freddie stay in business?

In most states, they *do* have the legal obligation to tell you
before
they change the terms of your mortgage. But they don't have any
obligation to stick to the original terms. Happens every day.

You're absolutely wrong. Purchasing a contract doesn't absolve the
buyer
of the contract from the responsibilties that are spelled out in the
contract. When an assignment of mortgage takes place, the secondary
lender is on the hook for all of the terms of the original mortgage.
Period.

No ****, if that were true, a secondary buyer could change the
interest
rate, payment due date, prepayemnt clause etc etc.

The fact is the mortagee has a contract, those terms cannot be altered
by
a third party.

When I last refinanced my mortgage it was through a broker who obtained
the
money from A. One of the last pieces of paper I signed at closing was
that
my mortgage was sold to B. Then two weeks later my mortgage was sold to
the
the company I obtained the initial mortgage from when I bought the
house.



Not surprising in the mortgage market.......but each 'buyer' was still
bound to the terms of the mortgage contract you signed.

NOYB wrote:
The rules apply whenever there's a contract.

That's a nice theory.

... A mortgage is a contract. My
lease is a contract. When I leased my office space, I knew that there was
the likely scenario of the landlord selling it to another party. I
contacted an attorney to ensure that the new landlord couldn't buy the
building, terminate my lease, and toss me out. They can't.

If that's true, then why did you have to go to an attorney?

This exact scenario happens every day

... They must honor
the contract/lease, or provide compensation to me if they need to alter the
terms of the lease in any way.

Sorry, but it doesn't seem so in light of very common events... at
least, out here in reality...


I know of one dentist who had 4 years remaining on a lease in a building
that was sold and scheduled to be torn down. He got nearly $200k from the
building's new owner to move out of his lease space...AND sufficient time to
find a new location, build it out, and move into it.


Good lawyering. It very often happens that people... and businesses...
get tossed out of their rental space when the building is sold.

Same thing with mortgages. When you get done having a circle jerk with
P. Fritz, try reading the realty section of the newspaper.

DSK

"DSK" wrote in message
. ..
NOYB wrote:
The rules apply whenever there's a contract.

That's a nice theory.

... A mortgage is a contract. My
lease is a contract. When I leased my office space, I knew that there
was
the likely scenario of the landlord selling it to another party. I
contacted an attorney to ensure that the new landlord couldn't buy the
building, terminate my lease, and toss me out. They can't.

If that's true, then why did you have to go to an attorney?

This exact scenario happens every day

... They must honor
the contract/lease, or provide compensation to me if they need to alter
the
terms of the lease in any way.

Sorry, but it doesn't seem so in light of very common events... at
least, out here in reality...


I know of one dentist who had 4 years remaining on a lease in a building
that was sold and scheduled to be torn down. He got nearly $200k from
the
building's new owner to move out of his lease space...AND sufficient
time to
find a new location, build it out, and move into it.


Good lawyering. It very often happens that people... and businesses...
get tossed out of their rental space when the building is sold.

Same thing with mortgages. When you get done having a circle jerk with
P. Fritz, try reading the realty section of the newspaper.

DSK


Try talking to a real estate attorney. Sure, people are tossed out of
rental space when a building is sold. And they most likely are on a month
to month lease. As to changing the terms of a mortgage, NO WAY! The only
changes will be where you send your money. Otherwise, your loan you signed
would be worthless to you. You are stating they can change the rate, the
payment date, the term of the loan. If this was true, every time the loan
was sold, the new owner would figure he needed more income and would raise
the rate. Fixed Rate Mortgage is just that.

"Calif Bill" wrote in message
nk.net...

"DSK" wrote in message
. ..
NOYB wrote:
The rules apply whenever there's a contract.

That's a nice theory.

... A mortgage is a contract. My
lease is a contract. When I leased my office space, I knew that there
was
the likely scenario of the landlord selling it to another party. I
contacted an attorney to ensure that the new landlord couldn't buy the
building, terminate my lease, and toss me out. They can't.

If that's true, then why did you have to go to an attorney?

This exact scenario happens every day

... They must honor
the contract/lease, or provide compensation to me if they need to alter
the
terms of the lease in any way.

Sorry, but it doesn't seem so in light of very common events... at
least, out here in reality...


I know of one dentist who had 4 years remaining on a lease in a
building
that was sold and scheduled to be torn down. He got nearly $200k from
the
building's new owner to move out of his lease space...AND sufficient
time to
find a new location, build it out, and move into it.


Good lawyering. It very often happens that people... and businesses...
get tossed out of their rental space when the building is sold.

Same thing with mortgages. When you get done having a circle jerk with
P. Fritz, try reading the realty section of the newspaper.

DSK


Try talking to a real estate attorney. Sure, people are tossed out of
rental space when a building is sold. And they most likely are on a month
to month lease. As to changing the terms of a mortgage, NO WAY! The only
changes will be where you send your money. Otherwise, your loan you
signed
would be worthless to you. You are stating they can change the rate, the
payment date, the term of the loan. If this was true, every time the loan
was sold, the new owner would figure he needed more income and would raise
the rate. Fixed Rate Mortgage is just that.

Exactly...............I have a client that will 'toss tenants out on the
street' at the end of their lease if they have a better deal on the table,
and will buy others out, if the $$$ are right, but there is no way they
can simply violate the lease. It would not surprise me, that many tenants
violate there lease in many simple ways, that would allow them to be booted.

"DSK" wrote in message
. ..
NOYB wrote:
The rules apply whenever there's a contract.

That's a nice theory.

... A mortgage is a contract. My lease is a contract. When I leased my
office space, I knew that there was the likely scenario of the landlord
selling it to another party. I contacted an attorney to ensure that the
new landlord couldn't buy the building, terminate my lease, and toss me
out. They can't.

If that's true, then why did you have to go to an attorney?

Because there are nitwits out there who were trying to tell me that the new
landlord could toss me out when he buys the place.


This exact scenario happens every day

No it doesn't.


... They must honor the contract/lease, or provide compensation to me if
they need to alter the terms of the lease in any way.

Sorry, but it doesn't seem so in light of very common events... at least,
out here in reality...

Which "common events"?



I know of one dentist who had 4 years remaining on a lease in a building
that was sold and scheduled to be torn down. He got nearly $200k from
the building's new owner to move out of his lease space...AND sufficient
time to find a new location, build it out, and move into it.


Good lawyering. It very often happens that people... and businesses... get
tossed out of their rental space when the building is sold.

Not if there's time left on the lease...and certainly not without
compensation.


Same thing with mortgages. When you get done having a circle jerk with P.
Fritz, try reading the realty section of the newspaper.

A mortgage company which receives assignment of the mortgage, cannot rewrite
the terms of the mortgage. They're buying a contract.

"Calif Bill" wrote in message
nk.net...

"DSK" wrote in message
. ..
NOYB wrote:
The rules apply whenever there's a contract.

That's a nice theory.

... A mortgage is a contract. My
lease is a contract. When I leased my office space, I knew that there
was
the likely scenario of the landlord selling it to another party. I
contacted an attorney to ensure that the new landlord couldn't buy the
building, terminate my lease, and toss me out. They can't.

If that's true, then why did you have to go to an attorney?

This exact scenario happens every day

... They must honor
the contract/lease, or provide compensation to me if they need to alter
the
terms of the lease in any way.

Sorry, but it doesn't seem so in light of very common events... at
least, out here in reality...


I know of one dentist who had 4 years remaining on a lease in a
building
that was sold and scheduled to be torn down. He got nearly $200k from
the
building's new owner to move out of his lease space...AND sufficient
time to
find a new location, build it out, and move into it.


Good lawyering. It very often happens that people... and businesses...
get tossed out of their rental space when the building is sold.

Same thing with mortgages. When you get done having a circle jerk with
P. Fritz, try reading the realty section of the newspaper.

DSK


Try talking to a real estate attorney. Sure, people are tossed out of
rental space when a building is sold. And they most likely are on a month
to month lease. As to changing the terms of a mortgage, NO WAY! The only
changes will be where you send your money. Otherwise, your loan you
signed
would be worthless to you. You are stating they can change the rate, the
payment date, the term of the loan. If this was true, every time the loan
was sold, the new owner would figure he needed more income and would raise
the rate. Fixed Rate Mortgage is just that.


Exactly!

"NOYB" wrote in message
k.net...

"DSK" wrote in message
. ..
NOYB wrote:
The rules apply whenever there's a contract.

That's a nice theory.

... A mortgage is a contract. My lease is a contract. When I leased
my office space, I knew that there was the likely scenario of the
landlord selling it to another party. I contacted an attorney to ensure
that the new landlord couldn't buy the building, terminate my lease, and
toss me out. They can't.

If that's true, then why did you have to go to an attorney?

Because there are nitwits out there who were trying to tell me that the
new landlord could toss me out when he buys the place.


This exact scenario happens every day

No it doesn't.


... They must honor the contract/lease, or provide compensation to me
if they need to alter the terms of the lease in any way.

Sorry, but it doesn't seem so in light of very common events... at least,
out here in reality...

Which "common events"?



I know of one dentist who had 4 years remaining on a lease in a building
that was sold and scheduled to be torn down. He got nearly $200k from
the building's new owner to move out of his lease space...AND sufficient
time to find a new location, build it out, and move into it.


Good lawyering. It very often happens that people... and businesses...
get tossed out of their rental space when the building is sold.

Not if there's time left on the lease...and certainly not without
compensation.


Same thing with mortgages. When you get done having a circle jerk with P.
Fritz, try reading the realty section of the newspaper.

A mortgage company which receives assignment of the mortgage, cannot
rewrite the terms of the mortgage. They're buying a contract.

Looks like harry is not the only one wishing to contend for asslicker's
title.

"P.Fritz" wrote in message
...

"NOYB" wrote in message
k.net...

"DSK" wrote in message
. ..
NOYB wrote:
The rules apply whenever there's a contract.

That's a nice theory.

... A mortgage is a contract. My lease is a contract. When I leased
my office space, I knew that there was the likely scenario of the
landlord selling it to another party. I contacted an attorney to
ensure that the new landlord couldn't buy the building, terminate my
lease, and toss me out. They can't.

If that's true, then why did you have to go to an attorney?

Because there are nitwits out there who were trying to tell me that the
new landlord could toss me out when he buys the place.


This exact scenario happens every day

No it doesn't.


... They must honor the contract/lease, or provide compensation to me
if they need to alter the terms of the lease in any way.

Sorry, but it doesn't seem so in light of very common events... at
least, out here in reality...

Which "common events"?



I know of one dentist who had 4 years remaining on a lease in a
building that was sold and scheduled to be torn down. He got nearly
$200k from the building's new owner to move out of his lease
space...AND sufficient time to find a new location, build it out, and
move into it.


Good lawyering. It very often happens that people... and businesses...
get tossed out of their rental space when the building is sold.

Not if there's time left on the lease...and certainly not without
compensation.


Same thing with mortgages. When you get done having a circle jerk with
P. Fritz, try reading the realty section of the newspaper.

A mortgage company which receives assignment of the mortgage, cannot
rewrite the terms of the mortgage. They're buying a contract.

Looks like harry is not the only one wishing to contend for asslicker's
title.

DSK and Harry aren't stupid like basskisser. DSK is just misinformed...and
Harry knows better, but sometimes enjoys playing Devil's advocate.