foreclosures at the trustee sale - Posted by Rudy

Real Estate Investing Real Estate Gurus
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Posted by Ronald * Starr(NoCA) on November 23, 2001 at 22:06:51:

Rudy------------

Your question is unclear. What loan is going to sale?

When a senior loan goes to sale, all junior loans are wiped off of the property, so that the buyer at the sale does not take any responsibility for them. However, if the junior lender was not notified of the sale by the trustee conducting the sale, the junior lien will remain on the property after the foreclosure. Any buyer will be responsible for that obligation. When professional trustee’s services do the sale, they should not miss notifying the junior holder. If it is being foreclosed upon by some private person, you better ask if they notified the junior(s).

Good Investing***Ron Starr

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foreclosures at the trustee sale - Posted by Rudy

Posted by Rudy on November 23, 2001 at 15:57:34:

In the state of California, when you purchase a foreclosure on the courthouse steps at the trustee sale, when there is a second and/or third mortgage on the property. Does that second or third gets dropped or pooled into the auction price?

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Re: foreclosures at the trustee sale - Posted by DIPAK R PATEL

Posted by DIPAK R PATEL on December 17, 2001 at 24:23:14:

FORCLAUSER PROPERTY LIST?