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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: buying out second mortgage before ca. auction Posted by Ward-CA- on July 25, 2001 at 10:23 PM In Reply to: buying out second mortgage before ca. auction posted by lisa gorlick on July 24, 2001 at 11:10 AM : When offering to buy out the second beneficary before a CA. auction- are a promisory note (Signed by myself) and a grant deed (Signed over from the second beneficary)the correct paperwork to be completed? =•=•=•=•=•=•=•=•=•=•=•= Lisa, no the proper paperwork to buy a promissory note secured by a deed of trust is: 1. Get and hold in a secure place the original promissory note after the selling beneficiary endorses it over to you. 2. Record an assignment of the companion deed of trust, signed by the selling beneficiary, naming you as the assignee. Follow Ups: Re: buying out second mortgage before ca. auction lisa gorlick 11:03 AM, 07/26/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : When offering to buy out the second beneficary before a CA. auction- are a promisory note (Signed by myself) and a grant deed (Signed over from the second beneficary)the correct paperwork to be completed? : =•=•=•=•=•=•=•=•=•=•=•= : Lisa, no the proper paperwork to buy a promissory note secured by a deed of trust is: : 1. Get and hold in a secure place the original promissory note after the selling beneficiary endorses it over to you. : 2. Record an assignment of the companion deed of trust, signed by the selling beneficiary, naming you as the assignee. 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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