All Forum Posts by: Joe Davis

You can! However, did you get the original contract when you signed the AOC? Better check what's on it. Also - a memo is 99% of the time not filed correctly - so if the seller had anyone legal helping them when it pops up they could get out of it.

Tell the wholesaler to send a recorded copy of the memo to the seller and tell them title is now clouded. That will probably put a fire under them to at least start dialouge. 

Likewise what Jay said! There is more to it, and you are correct if the loan is paid off quickly and you are just lending at 10% there are more factors. 

Another poster also said put it with a direct lender. We are offering 10-12% and we do all the grunt work and servicing (as I am sure many others do on here).

Send me a PM too if you want any advice! But it does sound like you know what you are doing :)

Wow, that does seem pretty strange that if they cannot honor the refi they would relinquish the clause. Read through the paperwork and see if there is an out. This is a first for me! 

I am happy to run it by our legal too for a bit of free advice.