InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Annual Reunion Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Trustee Sale Questions Posted by Skimmer on June 22, 2009 at 10:45 PM In Reply to: Trustee Sale Questions posted by Morris on June 22, 2009 at 8:17 PM Hi Morris, 1. If you have a way to know it, you will be your local trustee sale big boy. I think anyone who knows the "secret" will not share it with others here, you have to figure out yourself. 2. Depends. Only when the highest bid is higher than what it is actual owe to bank will go to junior bene. 3. You need title insurance when you sell. I don't think it is necessary to sell it to your entity first, you will pay double closing costs. Skimmer : 1. Is there a way to tell ahead of the sale date if the lender will drop the opening bid below the loan balance (called a specified bid I think)? : 2. If the lender does drop the bid, and bidding goes over the specified bid amount, does the amount over the specified bid go to junior lien holders? : 3. I know a trustee’s deed is uninsurable, but is there any advantage to quickly selling to another person or entity controlled by me so I can get title insurance? : Thanks, : Morris Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Hi Morris, : 1. If you have a way to know it, you will be your local trustee sale big boy. I think anyone who knows the "secret" will not share it with others here, you have to figure out yourself. : 2. Depends. Only when the highest bid is higher than what it is actual owe to bank will go to junior bene. : 3. You need title insurance when you sell. I don't think it is necessary to sell it to your entity first, you will pay double closing costs. : Skimmer : : 1. Is there a way to tell ahead of the sale date if the lender will drop the opening bid below the loan balance (called a specified bid I think)? : : 2. If the lender does drop the bid, and bidding goes over the specified bid amount, does the amount over the specified bid go to junior lien holders? : : 3. I know a trustee’s deed is uninsurable, but is there any advantage to quickly selling to another person or entity controlled by me so I can get title insurance? : : Thanks, : : Morris [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-date("Y"), InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455