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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] still confused on this sale Posted by Wonder Land on September 12, 2008 at 4:08 PM In Reply to: When foreclosing on an involuntary lien... posted by Ward-CA- on September 12, 2008 at 3:58 PM Hi Ward, I am still confused on this sale of why it is "subject to redemption". Here is what happened. This is a REO, bank hasn't paid HOA due for about 8 months. So HOA let trustee foreclosure the condo. I checked the NOD and NTS, it is non-judicial sale, just like all other non-judicial trustee sales, no different. But why no trustee's deed was issued, instead of a "Certificate of foreclosure sale -- subject to redemption" was delivered. I couldn't figure out why. May be as Tom said there is something special laws for bank owned houses? Thanks, Wonder : : Trustee’s only process non-judicial sales in CA. Judicial foreclosures are instigated and processed by attorneys. : A judgment creditor who wants to resort to foreclosing on their judgment lien will have to do a judicial foreclosure on their judgment since typically there’s no specification for a trustee in their borrowing documentation. : -------Ward : ============== : This sale must be a judicial sale (I need to confirm this. Since it was in CA, so I automaticly thought it was nonjudicial sale), the owner is a bank (REO house), who didn't pay HOA fee, and was foreclosed. : I am wondering in what situation in nonjudicial state like CA that trustee must do judicial sale instead of nonjudicial sale? : Thanks, Wonder Follow Ups: Some clarity... Ward-CA- 5:53 PM, 09/12/08 (1) I learned! Thanks Ward! Wonder Lan 4:07 PM, 09/13/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hi Ward, : I am still confused on this sale of why it is "subject to redemption". Here is what happened. This is a REO, bank hasn't paid HOA due for about 8 months. So HOA let trustee foreclosure the condo. I checked the NOD and NTS, it is non-judicial sale, just like all other non-judicial trustee sales, no different. But why no trustee's deed was issued, instead of a "Certificate of foreclosure sale -- subject to redemption" was delivered. : I couldn't figure out why. May be as Tom said there is something special laws for bank owned houses? : Thanks, : Wonder : : : : Trustee’s only process non-judicial sales in CA. Judicial foreclosures are instigated and processed by attorneys. : : A judgment creditor who wants to resort to foreclosing on their judgment lien will have to do a judicial foreclosure on their judgment since typically there’s no specification for a trustee in their borrowing documentation. : : -------Ward : : ============== : : This sale must be a judicial sale (I need to confirm this. Since it was in CA, so I automaticly thought it was nonjudicial sale), the owner is a bank (REO house), who didn't pay HOA fee, and was foreclosed. : : I am wondering in what situation in nonjudicial state like CA that trustee must do judicial sale instead of nonjudicial sale? : : Thanks, Wonder [ 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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