Sheriff Sales - Posted by Scott (DE)

import · January 27, 2003, 7:20pm

Posted by Ronald * Starr(in No CA) on January 28, 2003 at 12:46:41:

Scott-----------------

You should be able to get more information about the foreclosure sale by going to the clerk of the courts office and looking up the case in their index. Then request the court file, which you can look through and get a lot more information about liens, the subject lien under foreclosure, etc.

Good InvestingRon Starr

import · January 27, 2003, 7:20pm

Sheriff Sales - Posted by Scott (DE)

Posted by Scott (DE) on January 27, 2003 at 20:20:49:

Hi,
I have found some properties that I have some interest in coming up in a sheriff’s sale. I have a few questions about the leins/mortgages that are on the properties. When a sale occurs, say I was the winning bidder, would I have to satisfy all of the leins/mtgs? The problem is, when I search the deeds @ the recorders office, some of the mtgs aren’t showing up. I know this because the plaintiff in the suits aren’t even showing up on some of the properties. I have been doing my homework on them as usual, but, honestly I am green at the sheriff’s sales and could use the advice.

Thanks
Scott

import · January 27, 2003, 7:53pm

Re: Sheriff Sales - Posted by Ronald * (in No CA)

Posted by Ronald * (in No CA) on January 27, 2003 at 20:53:16:

Scott---------------

What you are saying does not make much sense to me. About the only thing I can think of is that in some states there are separate records for mortgages and for deeds. If you know what you are doing, you should be able to see all of the mortgages.

Now, aren’t you starting off by reading the lawsuits that filed for the foreclosures? In some jurisdictions there would junior lien-holders mentioned, I would think. Different states have different foreclosure procedures.

Now, I’m nervous that you are too much of a beginner to be messing around with foreclosure auctions. Have you read my article on the money-making ideas forum of this CREONLINE.COM website titled something like “Is Foreclosure Investing for You?” There I lay out my advice which is that beginners stear clear of foreclosure auctions.

Good InvestingRon Starr***

import · January 27, 2003, 9:08pm

Re: Sheriff Sales - Posted by Scott (DE)

Posted by Scott (DE) on January 27, 2003 at 22:08:19:

Thanks for the response. You could be right about me being too much of a newbie to do forclosure auctions. I know this to be fact, so don’t be too nervous! I am not jumping in yet. I am just doing the homework that I always do before taking the plunge. I am confident, but not too arrogant to admit when I have no idea what I am doing! LOL

I see that this confuses you also, it gives me some comfort to know it’s not just me. In my state, the deeds and mortgages are both recorded with the recorder of deeds. I can find them both with no problem. Where the confusion comes in is when I search under an address or the defendents name, sometimes the plaintiff does not show up. Now I know that the have a mortgage with the plaintiff, hence the foreclosure. I have found assigns on some of the mortgages which explains some, but there still are some discrepencies between the info from the sheriff and what is recorded on the deed.

The only info that is provided with the lawsuit info is type,atty,Plaintiff,writ,defendent,address,parcel#, and estimated upset bid. No juniors at all, all of that info I obtained from the deed recording. I am just concerned with accuracy of the records and my responsibility to satisfy other debts on the property.

Thanks Ron!
Scott

I will surely read you article too, keep the info coming and we’ll figure out if this is for me.