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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Second lienholder foreclosing - Citibank Posted by Joe on October 20, 2008 at 12:54 AM In Reply to: Re: Second lienholder foreclosing - Citibank posted by Ray on October 20, 2008 at 11:16 AM I'm a little rusty in this situation. What happens? Since the 2nd is first to trustee sale, they get title because no one will bid. Then does the 1st have to re-notice their sale? I'm assuming they noticed the 2nd anyways, as an interested party. Or do they simply get to go ahead with their trustee sale as well? If the bidding opens at the balance (or the trustee has authorization to bid for the bank up to the loan balance), then some novice may end up picking up the house. Otherwise, if you really want this house I would wait and contact the 1st after both sales. Then you can probably negotiate a nice discount. Follow Ups: Re: Second lienholder foreclosing - Citibank Ray 1:49 PM, 10/20/08 (1) Re: Second lienholder foreclosing - Citibank Joe 11:22 AM, 11/07/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I'm a little rusty in this situation. What happens? Since the 2nd is first to trustee sale, they get title because no one will bid. Then does the 1st have to re-notice their sale? I'm assuming they noticed the 2nd anyways, as an interested party. Or do they simply get to go ahead with their trustee sale as well? : If the bidding opens at the balance (or the trustee has authorization to bid for the bank up to the loan balance), then some novice may end up picking up the house. Otherwise, if you really want this house I would wait and contact the 1st after both sales. Then you can probably negotiate a nice discount. [ 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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