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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Holder of 2nd TD on property in bankruptcy Posted by Ward-CA- on July 04, 2001 at 6:15 AM In Reply to: Re: Holder of 2nd TD on property in bankruptcy posted by bsusel on July 04, 2001 at 2:29 AM : Thank you for your response. It is very helpful. Now a : complication. I just learned this today. : The property owner is unable to file a chap 13 because he did it : once and he failed to make payments, so the the court set the : bankruptcy aside. The owner is just stalling for time and says he : may have his wife file a chapter 7 as he is not able to. He has : filed for a stay on the foreclosure by the 1st TD holder until : July 25. : So now do I need to file a notice of default(?) to him and then : foreclose on him like you stated? I believe I can work with him : so he will not oppose my foreclosing on him. =•=•=•=•=•=•=•=•=•=•=•= Well if there’s no active bankruptcy filing presently in place, either in his name or by anyone else who’s on title to the property, then you’re free to summarily file foreclosure without further ado, on your 2nd. You wouldn’t need his permission or cooperation. Just contact the trustee named in your trust deed and it will be done. Follow Ups: Thank you bsusel 8:30 PM, 07/04/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Thank you for your response. It is very helpful. Now a : : complication. I just learned this today. : : The property owner is unable to file a chap 13 because he did it : : once and he failed to make payments, so the the court set the : : bankruptcy aside. The owner is just stalling for time and says he : : may have his wife file a chapter 7 as he is not able to. He has : : filed for a stay on the foreclosure by the 1st TD holder until : : July 25. : : So now do I need to file a notice of default(?) to him and then : : foreclose on him like you stated? I believe I can work with him : : so he will not oppose my foreclosing on him. : =•=•=•=•=•=•=•=•=•=•=•= : Well if there’s no active bankruptcy filing presently in place, either in his name or by anyone else who’s on title to the property, then you’re free to summarily file foreclosure without further ado, on your 2nd. You wouldn’t need his permission or cooperation. Just contact the trustee named in your trust deed and it will be done. 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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