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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: CA Foreclosure question on 2nd Posted by Craig in LA on April 09, 2009 at 7:28 PM In Reply to: Re: CA Foreclosure question on 2nd posted by Billy F on April 09, 2009 at 9:05 AM : Hi Kristine. Thank you for offering some insight into my situation. I will cease all contact with them from now on. The foreclosure sell date on 4/17/09 is for the 1st Mortgage with Wells Fargo Home Mortgage ($252K). The 2nd ($64K) with Wells Fargo Home Equity are the ones who are calling and threatening me. Their was absolutely no fraud on my part as I had no idea nor ever planned on renting this condo out. Thanks, Billy F First, stop talking to the lenders. Second, you may have run afoul of the "one action rule" which would allow the 2nd TD lender to pursue the equivalent of a breach of contract claim against you if they did not foreclose on the lien position. This is rather complicated and I am thinking of writing an article on this to post in the near future. I suspect this is what they are talking about. Follow Ups: Re: CA Foreclosure question on 2nd Kristine-CA 9:56 AM, 04/10/09 (1) Re: CA Foreclosure question on 2nd Craig in LA 6:01 PM, 04/10/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Kristine. Thank you for offering some insight into my situation. I will cease all contact with them from now on. The foreclosure sell date on 4/17/09 is for the 1st Mortgage with Wells Fargo Home Mortgage ($252K). The 2nd ($64K) with Wells Fargo Home Equity are the ones who are calling and threatening me. Their was absolutely no fraud on my part as I had no idea nor ever planned on renting this condo out. Thanks, Billy F : First, stop talking to the lenders. Second, you may have run afoul of the "one action rule" which would allow the 2nd TD lender to pursue the equivalent of a breach of contract claim against you if they did not foreclose on the lien position. This is rather complicated and I am thinking of writing an article on this to post in the near future. I suspect this is what they are talking about. [ 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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