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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Hypothetical answer... Posted by Ward-CA- on August 11, 2006 at 7:09 PM In Reply to: Ward ... A hypothetical quetion? posted by Jerry - Ca. on August 11, 2006 at 10:08 AM Jerry, The foreclosing lender is going to report their borrower of record to the credit bureaus, not the last property owner who wasn't legally obligated to repay the loan. The overbid from the foreclosure auction would go to the property owner of record at the time the foreclosure auction took place, as long as there was no fraud involved in the transfer of ownership. -----------Ward--------- : Ward: : With the new info./details in the later posts to this... since the flakey buyer : used the EPA form, which he/she didn't have to by claiming was going to be owner- : occupied... then none of the Code 1695 sections apply! He/she is not an equity : purchaser, rather a home buyer! If He/she recorded the deed prior to the sale : wouldn't the foreclosure go against his/her credit report and wouldn't the : overage go to him/her as the recorded owner prior to the sale? : Just a hypothetical question! : Jerry Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Jerry, : The foreclosing lender is going to report their borrower of record to the credit bureaus, not the last property owner who wasn't legally obligated to repay the loan. : The overbid from the foreclosure auction would go to the property owner of record at the time the foreclosure auction took place, as long as there was no fraud involved in the transfer of ownership. : : -----------Ward--------- : : Ward: : : With the new info./details in the later posts to this... since the flakey buyer : : used the EPA form, which he/she didn't have to by claiming was going to be owner- : : occupied... then none of the Code 1695 sections apply! He/she is not an equity : : purchaser, rather a home buyer! If He/she recorded the deed prior to the sale : : wouldn't the foreclosure go against his/her credit report and wouldn't the : : overage go to him/her as the recorded owner prior to the sale? : : Just a hypothetical question! : : Jerry 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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