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: transfer title just before trustee's sale Posted by Rick, the Probate Guy on January 17, 2010 at 5:25 PM In Reply to: Re: transfer title just before trustee's sale posted by Kristine-CA on January 16, 2010 at 7:23 PM Kristine, we don't know many facts here, as the poster has been really economical with details. As far as staying in the property, that will depend on many factors, especially the big one...whether the transferee can and does cancel the sale. Also, we don't know for a fact the the original loan has a due-on-transfer clause. Even if they did have one, the lender would have to start the whole foreclosure process over if they wished to declare a new breach, hence a new reason for default. That's pretty unlikely. Poster only wants to know how long she gets to remain in possession and is no doubt frightened. Since she's already signed the transfer instrument (and we don't even know if that was done properly) we can only hope that she's contracted with an ethical buyer. We don't even know what the buyer's plans are. They could even be making a play on the surplus funds with no intention of curing the default. We can only hope for poster's best interest. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Kristine, we don't know many facts here, as the poster has been really economical with details. : As far as staying in the property, that will depend on many factors, especially the big one...whether the transferee can and does cancel the sale. : Also, we don't know for a fact the the original loan has a due-on-transfer clause. Even if they did have one, the lender would have to start the whole foreclosure process over if they wished to declare a new breach, hence a new reason for default. That's pretty unlikely. : Poster only wants to know how long she gets to remain in possession and is no doubt frightened. Since she's already signed the transfer instrument (and we don't even know if that was done properly) we can only hope that she's contracted with an ethical buyer. We don't even know what the buyer's plans are. They could even be making a play on the surplus funds with no intention of curing the default. We can only hope for poster's best interest. [ 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