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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: 2nd deed forclosure Posted by karen on October 17, 2008 at 6:27 AM In Reply to: Re: 2nd deed forclosure posted by Ward-CA- on February 09, 2002 at 4:00 PM : :My friend holds a 2nd on a house she sold, the property is going into foreclosure. Can she put a lien on the property so she won't lose the money? Thank you, Karen Caral, you don’t have to pay the delinquent property taxes, nor the arrearages on the 1st, in order to foreclose on your 2nd trust deed. Your trustee will open the bidding of your foreclosure sale for the exact amount owed you, according to the figures you agree with and approve. The name of your trustee is stated in your deed of trust. It will usually be a title company, but it could be some other reliable entity too. : You don’t mention the balance of the 1st. Thus it’s not possible to figure the amount of equity up for grabs. If it’s attractive your trustee’s sale will be attended by outside bidders and you will be cashed out as a consequence. : At this point contact your trustee and instruct them to foreclose against your non-paying second. : Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : :My friend holds a 2nd on a house she sold, the property is going into foreclosure. Can she put a lien on the property so she won't lose the money? Thank you, Karen : Caral, you don’t have to pay the delinquent property taxes, nor the arrearages on the 1st, in order to foreclose on your 2nd trust deed. Your trustee will open the bidding of your foreclosure sale for the exact amount owed you, according to the figures you agree with and approve. The name of your trustee is stated in your deed of trust. It will usually be a title company, but it could be some other reliable entity too. : : You don’t mention the balance of the 1st. Thus it’s not possible to figure the amount of equity up for grabs. If it’s attractive your trustee’s sale will be attended by outside bidders and you will be cashed out as a consequence. : : At this point contact your trustee and instruct them to foreclose against your non-paying second. : : Hope this helps. [ 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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