Lughead: if the trustee's deed you received and recorded contained the proper language about everything being in compliance and there were no irregularities at sale, you are a BFP and the sale is final. AMPLE case law in CA on this. It's the lender's attorney's job and the trustee's job to tell you that they can rescind because of this that or the other thing. The loss is huge for them right now and mistakes are rampant. In today's CA foreclosure environment, lenders and trustees are getting hammered by borrowers suing lenders and trustee's sales being held in error. This has nothing to with a BFP at trustee's sale and does not overturn your sale. Irregularity of sale has to do with the noticing being wrong or the auctioneer calling out the wrong address....those are rescindable events. A sale held in error because there was a loan mod pending or the borrower tried to make a payment or the lender or the trustee made a mistake....case law upholds those trustee's sales to BFPs.
It's one thing when the trustee's deed has not been issued. I think that most trustee's sale buyers can accommodate 15 days into their plan for the property and not lose too much sleep or money over those rescissions. But a properly executed sale and TDUS issued to a BFP? The lenders won't slow down if the BFPs don't at least make a little noise.
