Posted by Rick, the Probate Guy on October 08, 2007 at 18:50:09:
Not exactly. You’d have to get a money judgment on the wiped off second, and that’s only possible if it’s a not a purchase money (carry-back) loan. If it is, this play won’t work.
If your loan resulted from a cash refi loan, then you have a chance at getting a deficiency judgment. Why not post more/better facts on the cash flow section of this site?
Help need to Foreclose transfer lien - Posted by Mark , Ca
Posted by Mark , Ca on October 04, 2007 at 12:13:03:
Hi All
Iâ??ve been told that if a 1st position lenders forecloses and the property is sold short that lender can lien other real estate for the short fall is this true?
Iâ??ve got a 2nd trust deed on a property that I am now foreclosing on, due to falling real estate prices my equity position is evaporating and I may lose ten of thousands, but If I can lien the borrowers other properties this would save my position.
So is it true can a lien position be transfer to another property without the owners permission to protect your position?
Thanks so much