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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Proceed with obtaining possession, etc. Posted by Ward-CA- on April 17, 2002 at 3:09 PM In Reply to: What next? posted by washu on April 15, 2002 at 9:04 PM : I just bought a forclosure property today. I did my search on title. It is clear of any previous owners, except for the current owners that are in the process of seperation. The husband knew the house is being forclosed today. The wife did not care I guess. In the county public records I found that they have a judgement of $4000 from a creditor. I saw also it said part of that document, Homestead Exempt...(N0).marked. Will this effect my purchase for any reason later on? Can the wife suddenly show up and file for not being aware of default on the note and this all forclosure process? : Also, I am concerned on the husbands tax filings in the last 3-4 years, as I found out. Will there be in the next 120 days after today or after my settlement?????? any ROR or LIENs from IRS and or the State on the property?. (I mean not property tax, but individual tax). If assuming there will be, what happens to my purchase? : Is it wise to start fixing the house now or wait? How long at least minimum? : I appreciate someones input here, how simple and stupid it might sound, but since this is a first buy I will learn. : By the way this all happens in the state which is a non judicial foreclosure process. =•=•=•=•=•=•=•=•=•=•= Washu, Homestead has no effect on a foreclosure of a voluntary lien such as a deed of trust. And all the foreclosing trustee has to do is send notice to the trustors at their last known address. Whether the trustors actually receive the notice is irrelevant, as long as the attempt to notify them was made at their last known address. The only liens pertinent to the foreclosure were those that were recorded in the public record prior to the foreclosure auction. Anything that occurred later is of no consequence. You said you searched the title of the property prior to the foreclosure auction. If you did a thorough job and found no recorded federal tax lien then you have nothing to worry about and don’t have to wait at all. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I just bought a forclosure property today. I did my search on title. It is clear of any previous owners, except for the current owners that are in the process of seperation. The husband knew the house is being forclosed today. The wife did not care I guess. In the county public records I found that they have a judgement of $4000 from a creditor. I saw also it said part of that document, Homestead Exempt...(N0).marked. Will this effect my purchase for any reason later on? Can the wife suddenly show up and file for not being aware of default on the note and this all forclosure process? : : Also, I am concerned on the husbands tax filings in the last 3-4 years, as I found out. Will there be in the next 120 days after today or after my settlement?????? any ROR or LIENs from IRS and or the State on the property?. (I mean not property tax, but individual tax). If assuming there will be, what happens to my purchase? : : Is it wise to start fixing the house now or wait? How long at least minimum? : : I appreciate someones input here, how simple and stupid it might sound, but since this is a first buy I will learn. : : By the way this all happens in the state which is a non judicial foreclosure process. : =•=•=•=•=•=•=•=•=•=•= : Washu, : Homestead has no effect on a foreclosure of a voluntary lien such as a deed of trust. And all the foreclosing trustee has to do is send notice to the trustors at their last known address. Whether the trustors actually receive the notice is irrelevant, as long as the attempt to notify them was made at their last known address. : The only liens pertinent to the foreclosure were those that were recorded in the public record prior to the foreclosure auction. Anything that occurred later is of no consequence. : You said you searched the title of the property prior to the foreclosure auction. If you did a thorough job and found no recorded federal tax lien then you have nothing to worry about and don’t have to wait at all. : Hope this helps. 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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