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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: post-foreclosure check Posted by Ward-CA- on April 02, 2002 at 6:29 PM In Reply to: post-foreclosure check posted by Cindy MO on April 02, 2002 at 7:06 AM : Ward, you mentioned in your advice in another message that you teach people that they should check immediately after a foreclosure auction to make sure all that should have been notified of the sale were so notified. This will then assure you that no junior liens can come back on you after the sale do to a mistake by the trustee. How do we check for this? Thank you again in advance? ==================== If we're the successful bidder we ask the foreclosing trustee for a complimentary copy of their Trustee's Sale Guaranty (TSG). We compare all the lien holders listed in the TSG with our title research to see if there's a match. If we have more lien holders than they do in the TSG then we know they didn't send notice to everyone entitled to one. If that's the case they would have to cancel the sale, based on mistake, and re-record the Notice of Trustee's Sale (NTS) and send notice of it to all the parties adversely affected by the foreclosure, including the overlooked lien holder. Then they'd have advertise it once a week for 3 consecutive weeks and then sell it at the auction again. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, you mentioned in your advice in another message that you teach people that they should check immediately after a foreclosure auction to make sure all that should have been notified of the sale were so notified. This will then assure you that no junior liens can come back on you after the sale do to a mistake by the trustee. How do we check for this? Thank you again in advance? : ==================== : If we're the successful bidder we ask the foreclosing trustee for a complimentary copy of their Trustee's Sale Guaranty (TSG). We compare all the lien holders listed in the TSG with our title research to see if there's a match. If we have more lien holders than they do in the TSG then we know they didn't send notice to everyone entitled to one. If that's the case they would have to cancel the sale, based on mistake, and re-record the Notice of Trustee's Sale (NTS) and send notice of it to all the parties adversely affected by the foreclosure, including the overlooked lien holder. Then they'd have advertise it once a week for 3 consecutive weeks and then sell it at the auction again. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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