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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: That Doesn't Add Up Posted by Sean Wagle on April 06, 2002 at 10:06 PM In Reply to: Re: That Doesn't Add Up posted by brian on April 06, 2002 at 4:44 PM : : Ward, this may sound strange, but I not making up a theoretical situation. My intent is to buy the TD and the judgement. I already have the quit claim. With sherrif sales I've heard that the process is only 30 days from start to finish. Also, the guy the judgement hasn't owned the home for 3 years so he probably doesn't care if what happens to the place. Sheriffs sales don't seem to draw much attention around here. : I forgot to mention that I was hoping to be reimbursed for my losses on the TD by collecting the from title insurance comany I'm not Ward.. I was just "butting in" on this one. My understanding is that title insurance protects the LENDER, not the grantee of the TD. I suppose the lender could collect $500 from the title insurance company if this house went to foreclosure, and was sold $500 short. But I don't understand how that helps you. Even if you bought the note, that title policy was written for the original TD. I don't think you could collect on it, otherwise this would be a common answer to solving "senior lien" snafus. Oh well. I'll shut up on this one and see what Ward has to say. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : Ward, this may sound strange, but I not making up a theoretical situation. My intent is to buy the TD and the judgement. I already have the quit claim. With sherrif sales I've heard that the process is only 30 days from start to finish. Also, the guy the judgement hasn't owned the home for 3 years so he probably doesn't care if what happens to the place. Sheriffs sales don't seem to draw much attention around here. : : I forgot to mention that I was hoping to be reimbursed for my losses on the TD by collecting the from title insurance comany : I'm not Ward.. I was just "butting in" on this one. : My understanding is that title insurance protects the LENDER, not the grantee of the TD. I suppose the lender could collect $500 from the title insurance company if this house went to foreclosure, and was sold $500 short. But I don't understand how that helps you. : Even if you bought the note, that title policy was written for the original TD. I don't think you could collect on it, otherwise this would be a common answer to solving "senior lien" snafus. : Oh well. I'll shut up on this one and see what Ward has to say. 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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