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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Establishing lien priorities Posted by Ward-CA- on July 31, 2001 at 4:35 PM In Reply to: Loans Recorded on same day>> posted by Jason on July 31, 2001 at 11:20 AM : We have several Trustee sales coming up in my area that have 2 loans recorded on the same day. The sale is going to take place at the same day and time also. If we attend the sale and they actually go to auction, Is there a way to tell if you are buying the Senior or Junior Loan? I have heard that because one is recorded first the second must acknowledge its position before it is agreed. How can I be tell there positions? I wonder if the auctioneer will sell the 2nd beneficiary at the auction first so the Senior loan will be paid off. Interesting!! Thanks =•=•=•=•=•=•=•=•=•=•=•=•= Jason, I know you’re not going to want to hear this, but the only way to determine the priority of liens is to do a title search or pay to have one done. If you’re looking at a lot of foreclosures the cost of paying someone to research all the titles involved gets too prohibitive. So, sooner or later you’re going to end up having to do the research yourself. If that’s true, then don’t pussyfoot around. Seek out a title expert and get properly trained in title searching. Guessing about the priority of liens makes no sense, especially when, if you guess wrong, it will cost you thousands of dollars, right? Good luck. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : We have several Trustee sales coming up in my area that have 2 loans recorded on the same day. The sale is going to take place at the same day and time also. If we attend the sale and they actually go to auction, Is there a way to tell if you are buying the Senior or Junior Loan? I have heard that because one is recorded first the second must acknowledge its position before it is agreed. How can I be tell there positions? I wonder if the auctioneer will sell the 2nd beneficiary at the auction first so the Senior loan will be paid off. Interesting!! Thanks : =•=•=•=•=•=•=•=•=•=•=•=•= : Jason, I know you’re not going to want to hear this, but the only way to determine the priority of liens is to do a title search or pay to have one done. If you’re looking at a lot of foreclosures the cost of paying someone to research all the titles involved gets too prohibitive. So, sooner or later you’re going to end up having to do the research yourself. If that’s true, then don’t pussyfoot around. Seek out a title expert and get properly trained in title searching. : Guessing about the priority of liens makes no sense, especially when, if you guess wrong, it will cost you thousands of dollars, right? : : Good luck. 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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