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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Jr Lien Posted by greg benjamin on April 27, 2008 at 10:23 AM In Reply to: Re: Jr Lien posted by Rick, the Probate Guy on April 26, 2008 at 4:42 PM : Jr liens get "wiped OFF" not "OUT," of course. I think your issue centers around two main possibilities: : 1) Was the City lien a "super-priority lien" that runs with other property tax-related debts pertaining to the property? : 2) If not, what's your plan to get "Suzy" at the City to understand that your lien should not be treated as a super-priority lien if it's now an unsecured debt of the previous owner? : My experience with the City of Riverside a few years ago was the same, except that they had placed about $16,000 in code enforcement liens for boarding up and cutting weeds, etc., of the abandoned pre-probate house that I had acquired. My acquisition was not the result of buying at a trustee sale, but from a practical perspective, Suzy at the City doesn't care or know the difference. : I'm guessing that the City's lien runs superior to that of the interest that you bought at the sale. But don't take my word because the research that you'll do on this deal will pay you knowledge for countless times in the future. : Sadly, I paid the lien that I inherited, but I was still as happy about my profit as 'Smilin' Bob' from the TV commercial. : Hope your deal turns out as good or better than mine did. Thank you for your thoughts on this. The City wants something from me to show that a "Jr Lien" gets "wiped out" from a foreclosure sale or trustee sale. Everyone seems to know about it but no one can point where this idea or law/rule came from. Until I can find it in writing I am responsible for this Jr Lien. Does this mean that a second Trust deed or third Trust deed doesn't get wiped off if the person who has those Jr Liens are stubborn? I need to find something in writing that explains this. And no, the City did not add this lien to the property taxes, at least not yet. If anyone knows anything about this, please let me know. Thanks Greg Follow Ups: Wiped "Off," but not wiped "out" Rick, the Probate Guy 8:16 PM, 04/27/08 (5) Re: Wiped "Off," but not wiped "out" greg benjamin 9:20 PM, 04/27/08 (4) Attack the problem another way Tom 5:48 AM, 04/28/08 (1) Re: Attack the problem another way greg benjamin 4:54 PM, 04/28/08 (0) Some good bed time reading ! Guy 11:07 PM, 04/27/08 (1) Re: Some good bed time reading ! greg benjamin 4:57 PM, 04/28/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Jr liens get "wiped OFF" not "OUT," of course. I think your issue centers around two main possibilities: : : 1) Was the City lien a "super-priority lien" that runs with other property tax-related debts pertaining to the property? : : 2) If not, what's your plan to get "Suzy" at the City to understand that your lien should not be treated as a super-priority lien if it's now an unsecured debt of the previous owner? : : My experience with the City of Riverside a few years ago was the same, except that they had placed about $16,000 in code enforcement liens for boarding up and cutting weeds, etc., of the abandoned pre-probate house that I had acquired. My acquisition was not the result of buying at a trustee sale, but from a practical perspective, Suzy at the City doesn't care or know the difference. : : I'm guessing that the City's lien runs superior to that of the interest that you bought at the sale. But don't take my word because the research that you'll do on this deal will pay you knowledge for countless times in the future. : : Sadly, I paid the lien that I inherited, but I was still as happy about my profit as 'Smilin' Bob' from the TV commercial. : : Hope your deal turns out as good or better than mine did. : Thank you for your thoughts on this. The City wants something from me to show that a "Jr Lien" gets "wiped out" from a foreclosure sale or trustee sale. Everyone seems to know about it but no one can point where this idea or law/rule came from. Until I can find it in writing I am responsible for this Jr Lien. Does this mean that a second Trust deed or third Trust deed doesn't get wiped off if the person who has those Jr Liens are stubborn? I need to find something in writing that explains this. And no, the City did not add this lien to the property taxes, at least not yet. If anyone knows anything about this, please let me know. Thanks Greg [ 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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