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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: buying out second mortgage before ca. auction Posted by lisa gorlick on July 26, 2001 at 11:03 AM In Reply to: Re: buying out second mortgage before ca. auction posted by Ward-CA- on July 25, 2001 at 10:23 PM : : 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. Ward, A big thank you for your input! Follow Ups: 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. : Ward, A big thank you for your input! 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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