Re: Making payment on the first after TS

Lin,

I'm going to assume we are in CA where you were the successful bidder at a Trustee Sale of a 2nd deed of trust. Thus you now own the subject property "subject to" the balance of the remaining 1st trust deed. When you resell the property you'd like to be able to use a "wrap-around" aka an All-Inclusive Trust Deed (AITD)... which in effect adds the unpaid balance of the 1st trust deed to the balance that would be owing you (after adjusting for your buyer's down payment).

You want to continue to make payments on the existing 1st without the formality and cost that would be involved if you formally assumed the 1st. We've been successful in pulling this off by initially exercising our CA. Right of Reinstatement (ROR) on the 1st and then thereafter continue making the stated monthly payments on time.

Using a note collection service, such as Del Toro Servicing, packages everything together in such a way that makes it easier to resell the property...and also your "wrap".

--------------------------Ward

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