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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Recourse on second TD Posted by Stuart on March 12, 2010 at 7:01 PM In Reply to: Re: Recourse on second TD posted by Dond on March 12, 2010 at 12:03 AM thanks for the input. Indeed it appears (from a different title company) that the second will reattach and take a priority position. I did not get a legal opinion, but, who cares, the title companies will only insure if the second is listed as an exception to coverage. So, practically, he can't buy the property back without the second being a problem. Anyone know the law regarding collecting on the second after a trustee sale. I realize there is a note involved, so the note should be collectible (with respect to the second, not the non-recourse first). I was under the misinformed impression that the second was wiped, but haven't addressed the issue as to whether or not the second is wiped with respect to the original buyer. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : thanks for the input. Indeed it appears (from a different title company) : that the second will reattach and take a priority position. I did : not get a legal opinion, but, who cares, the title companies will : only insure if the second is listed as an exception to coverage. So, : practically, he can't buy the property back without the second being : a problem. : Anyone know the law regarding collecting on the second after a trustee : sale. I realize there is a note involved, so the note should be : collectible (with respect to the second, not the non-recourse first). I : was under the misinformed impression that the second was wiped, but : haven't addressed the issue as to whether or not the second is wiped with : respect to the original buyer. [ 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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