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VOID Trustee Sale with bonofide 3rd party buyer??

djs
October 10, 2011 08:38PM
Wow... we filed an Unlawful Detainer to evict the occupant after purchasing a property at the Trustee Sale. The Trustee's Deed was recieved and recorded (duly perfected) but the occupant's attorney is now claiming a wrongful foreclosure. He claims that the deed of trust from MERS to Recon Trust wasn't recorded until a week after the Notice of Default was filed (Recon Trust filed the NOD). Our motion for request of possession was denied by the judge. Instead he set a trial date, even though we purchased the property and duly perfected the title. What's really sick, is the occupant (previous owner) used their home as an ATM machine for the past 10 yrs, reaping more than $300k cash out of the property by refinancing with different lenders every time the value went up. He only put $356k into it when he purchased! Now he wants to rape me too, a bonofide buyer, by claiming an invalid foreclosure. This isn't somebody that fell on hard times..... it's someone who totally abused the system and found a legal way to steal! Now we need to pay legal fees and we lack posession of a property we legally purchased at the auction. We believe the trial will go in our favor, but in the event it does not, will we have to sue Recon Trust to get our monies back ($226,000)? I am having a hard time finding anything online about this. It's very rare for a foreclosure to be VOID after title is duly perfected but there have been a couple instances where this has happened. Has anyone on this formum had any experience with this situation or have knowledge? Thanks in advance for any responses!
Subject Author Views Posted

VOID Trustee Sale with bonofide 3rd party buyer??

djs 4166 October 10, 2011 08:38PM

Re: VOID Trustee Sale with bonofide 3rd party buyer??

Dond 2555 October 11, 2011 07:40AM

Re: VOID Trustee Sale with bonofide 3rd party buyer??

JK (the other JK) 2593 October 11, 2011 09:30AM

Re: VOID Trustee Sale with bonofide 3rd party buyer??

Rick Harmon 2501 October 12, 2011 01:29PM

Re: VOID Trustee Sale with bonofide 3rd party buyer??

GJ 2721 October 13, 2011 07:38AM

Re: VOID Trustee Sale with bonofide 3rd party buyer??

cool2rock 2502 October 13, 2011 10:10AM



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