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Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Casey who wrote (1765)	12/9/1997 2:34:00 PM
From: Scott Moore	Respond to of 2544

On thing is for sure, you can slow-pay your payments back to them. Seems like a bunch of their customers are already doing that. The bankruptcy lawyers will eventually send you a note to send them the back payments. But you could argue the late penalties saying that you didn't know where to send the payments to. And no, whomever becomes the new benificiary of the loan cannot raise your rate or accelerate repayment or change any terms.

To: Steve Casey who wrote (1765)	12/9/1997 2:57:00 PM
From: Bruce A. Thompson	Respond to of 2544

Steve RE: Searching for a consolidation loan. Yes CTYS is a good company. I wouldn't take the advice of the poster who said pay slow. If you are borrowing from CTYS, they are probably going to sell your loan almost immediately. This means only that the payments are going to be made to someone else. The sale of the paper does not alter the terms of the paper one bit. Miss a payment and your credit will suffer. The real question is do you really want to tie your home up for 5-10 years with a 125% loan? You would not be able to sell it if you needed to. Bruce