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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Trustor is final recipient of overbid surplus Posted by Ward-CA- on August 09, 2001 at 3:10 PM In Reply to: Re: Jr bene buyout strategy posted by Troy on August 08, 2001 at 5:49 PM : Ward, thanks for the reply. It has generated another question, however. : If a junior lien is being foreclosed upon and it actually makes it to the trustee sale, won't all senior liens stay on the property regardless of what happens (I thought that only "junior linens" are wiped off)? And, if in this situation the property sells for FMV at the trustee sale, then what happens to all the extra cash after all junior liens have been paid? =•=•=•=•=•=•=•=•=•=•=•=•= Troy, the surplus of cash remaining after all entitled junior lienors have been paid off goes to the owner of the property. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, thanks for the reply. It has generated another question, however. : : If a junior lien is being foreclosed upon and it actually makes it to the trustee sale, won't all senior liens stay on the property regardless of what happens (I thought that only "junior linens" are wiped off)? And, if in this situation the property sells for FMV at the trustee sale, then what happens to all the extra cash after all junior liens have been paid? : =•=•=•=•=•=•=•=•=•=•=•=•= : Troy, the surplus of cash remaining after all entitled junior lienors have been paid off goes to the owner of the property. 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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