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If You Buy A 2nd, Reinstate 1st, Can You Add That To Opening Bid When Foreclosing?

February 25, 2014 05:45PM
Interested in buying a 2nd with the intent to foreclosure (abandoned property owner out of the picture). The 2nd position lender selling the note will not discount (actually wants $1,500 over what is owed) and the 1st has filed an NOD. The concern is that when foreclosing on the 2nd that if an investor buys us out at the Trustee's Sale, all of the money used to reinstate gets eaten by us. Can we legally add money put towards the first to the opening bid when foreclosing on the 2nd? Thanks in advance. Kurtis
Subject Author Views Posted

If You Buy A 2nd, Reinstate 1st, Can You Add That To Opening Bid When Foreclosing?

ksquyres 3898 February 25, 2014 05:45PM

Re: If You Buy A 2nd, Reinstate 1st, Can You Add That To Opening Bid When Foreclosing?

Rick the probate guy 2960 February 26, 2014 09:18AM

Only outstanding principal, interest, advances and penalties can be included in a foreclosing lienor's opening bid.

Ward-CA 2949 March 12, 2014 08:39AM

Re: Only outstanding principal, interest, advances and penalties can be included in a foreclosing lienor's opening bid.

Trebor 2686 March 12, 2014 09:36AM



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