InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Trustee Auction .. By Whom??? Posted by Keith on April 21, 2008 at 10:04 PM In Reply to: Re: Trustee Auction .. By Whom??? posted by Jerry - Ca. on April 21, 2008 at 2:58 PM Hi Jerry, just to clarify, I'm the lender. ie. I lent the money to a borrower who secured the promissory note with a trust deed on her property. The home is now vacant. The borrower is no where to be found. And all the loans are defaulting. (But I go to sale first) -keith : Hello Keith: : Forgive me if I'm misreading what you are saying in your post. It appears that you're the Trustor/borrower on the notes in question. If that is correct ... I don't believe that you have any say or input as to what amount the foreclosing lender(s) set for the opening bid. : You did say "Trustee Sale/Auction" didn't you? : Jerry-Ca. : XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX : : How much profit does it take to make a bidder interested? : : I have a 2nd of 25k going to sale on a property that : : has comps in high 300's low 400's.. the property is in : : average shape.. : : 1st payoff is 344k as of 3/3/2008 : : the monthly payment is 2.7k including late fee, taxes, escrow.. : : in your opinion.. is there any chance of getting any bidders? : : would it be better to lower the opening bid? : : thanks, : : -keith Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Hi Jerry, : just to clarify, I'm the lender. ie. I lent the money to : a borrower who secured the promissory note with a trust deed : on her property. The home is now vacant. The borrower is : no where to be found. And all the loans are defaulting. : (But I go to sale first) : -keith : : Hello Keith: : : Forgive me if I'm misreading what you are saying in your post. It appears that you're the Trustor/borrower on the notes in question. If that is correct ... I don't believe that you have any say or input as to what amount the foreclosing lender(s) set for the opening bid. : : You did say "Trustee Sale/Auction" didn't you? : : Jerry-Ca. : : XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX : : : How much profit does it take to make a bidder interested? : : : I have a 2nd of 25k going to sale on a property that : : : has comps in high 300's low 400's.. the property is in : : : average shape.. : : : 1st payoff is 344k as of 3/3/2008 : : : the monthly payment is 2.7k including late fee, taxes, escrow.. : : : in your opinion.. is there any chance of getting any bidders? : : : would it be better to lower the opening bid? : : : thanks, : : : -keith [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2008, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455