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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Jr Bene Buyout Posted by Troy on August 08, 2001 at 11:33 AM Ward, I have a couple questions about Jr. Bene buyouts. First, Between the two options below, which course of action is best when purchasing a Jr TD on a property that has a Sr TD in the process of foreclosure, and is approximately 3 weeks from the Trustee Sale: A. Wait for the Trustee Sale and hope for overflow (gain only the discount you purhased the Jr TD at), or B. Start your own foreclosure process on the Jr TD Second, if you were to go with option B and the property ended up going to sale and sold @ fair market value (let's say the Sr TD was 50% of FMV and the Jr TD was 25% of FMV, leaving 25% in equity), are you paid only what you are owed, or do you get any of the "leftover" after all other loans/liens are paid? Follow Ups: Re: Jr bene buyout strategy Ward-CA- 5:09 PM, 08/08/01 (2) Re: Jr bene buyout strategy Troy 5:49 PM, 08/08/01 (1) Re: Trustor is final recipient of overbid surplus Ward-CA- 3:10 PM, 08/09/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, I have a couple questions about Jr. Bene buyouts. : First, Between the two options below, which course of action is best when purchasing a Jr TD on a property that has a Sr TD in the process of foreclosure, and is approximately 3 weeks from the Trustee Sale: : A. Wait for the Trustee Sale and hope for overflow (gain only the discount you purhased the Jr TD at), or : B. Start your own foreclosure process on the Jr TD : Second, if you were to go with option B and the property ended up going to sale and sold @ fair market value (let's say the Sr TD was 50% of FMV and the Jr TD was 25% of FMV, leaving 25% in equity), are you paid only what you are owed, or do you get any of the "leftover" after all other loans/liens are paid? 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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