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: Wiped "Off," but not wiped "out" Posted by greg benjamin on April 27, 2008 at 9:20 PM In Reply to: Wiped posted by on April 27, 2008 at 8:16 PM : The affect of junior lienholders subject to a senior lien sold at a foreclosure auction (trustee sale) is that it's wiped OFF, not OUT. The debt is not cancelled; only the security interest in the asset is extinguished. Thanks Rick, OK I got it now. I wasn't sure the difference. But where is this a written understanding? What can I walk into the county and show "Suzie" that this is the way it should be handled? This may be an understanding between professionals but is it a law or something in writing I can look up somewhere? thanks, Greg Follow Ups: 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: : : The affect of junior lienholders subject to a senior lien sold at a foreclosure auction (trustee sale) is that it's wiped OFF, not OUT. The debt is not cancelled; only the security interest in the asset is extinguished. : Thanks Rick, OK I got it now. I wasn't sure the difference. But where is this a written understanding? What can I walk into the county and show "Suzie" that this is the way it should be handled? This may be an understanding between professionals but is it a law or something in writing I can look up somewhere? thanks, Greg [ 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