Posted by Brian_wa on April 10, 2007 at 01:09:01:
I continue to hire the foreclosure company that the original lender hired. I wanted to make sure that everything is done correctly. We don’t have much time left if we follow the current auction date. That’s why I’m asking just so I know what to expect…
foreclosing on a property - Posted by Brian_wa
Posted by Brian_wa on April 09, 2007 at 16:07:03:
I recent bought a discounted notes and I’m proceeding with the auction. One thing I’d like to know is if there is a judgment against the borrower, does the judgment holder have to be notified of the change in ownership of the note as well?
Re: foreclosing on a property - Posted by Kristine-CK
Posted by Kristine-CK on April 10, 2007 at 24:37:37:
Brian: you may get better and more accurate responses if you define
what type of foreclosure. I assume you are talking about a trustee’s
sale as I think you’ve posted about this deal before.
You should be able to ask the trustee/trustee’s sale service about this.
My understanding of what you are asking: does the judgement holder
need notification of the assignment of the note? Not as far as I know.
My understanding is that the recordation of the assignment of the deed
of trust is a notice to all of the change of ownership. There are specific
guidelines for notification and publication for the default and the
notice of sale. But I’m not a trustee or trustee’s sale service.
I’m curious: you aren’t serving as your own trustee on this, are you?
Re: foreclosing on a property - Posted by dealmaker
Posted by dealmaker on April 09, 2007 at 20:27:46:
Brian, I do almsot everything myself! But I’ve drawn the line at doing my own foreclosures! I’d let the attorney (substitute trustee) handle ALL NOTIIFICATIONS. IIRC most of them come under the Fair Debt Collection Laws.