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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Question about Foreclosure Notice Procedures Posted by Rick Harmon on May 14, 2010 at 4:43 PM In Reply to: Question about Foreclosure Notice Procedures posted by Karly on May 14, 2010 at 2:19 PM Generally, a foreclosing senior lender will notice all persons who have a recorded interest as of the date of the declaration of default. The foreclosure trustee will obtain a Trustee Sale Guarantee, which on the face of it appears like a title prelim, but it's purpose is to identify all ownership interests and junior lienholders for the purposes of mailing notices. If you were to have purchased the interests of a foreclosing 2nd TD, and the 1st subsequently forecloses after you record your trustee's deed upon sale, they would have had time to include you in the statutory noticing process, However, if they have commenced foreclosure, and progressed past the point of of pub and posting the Notice of Trustee's sale, then they would have no obligation to restart the process. Otherwise, if they were required to restart noticing upon each transfer, lenders would never be able to conclude foreclosure sales as borrowers/owners would continue to tranfer property interests, hoping to stall sales ad infinitum. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Generally, a foreclosing senior lender will notice all persons who have a recorded interest as of the date of the declaration of default. The foreclosure trustee will obtain a Trustee Sale Guarantee, which on the face of it appears like a title prelim, but it's purpose is to identify all ownership interests and junior lienholders for the purposes of mailing notices. : If you were to have purchased the interests of a foreclosing 2nd TD, and the 1st subsequently forecloses after you record your trustee's deed upon sale, they would have had time to include you in the statutory noticing process, However, if they have commenced foreclosure, and progressed past the point of of pub and posting the Notice of Trustee's sale, then they would have no obligation to restart the process. : Otherwise, if they were required to restart noticing upon each transfer, lenders would never be able to conclude foreclosure sales as borrowers/owners would continue to tranfer property interests, hoping to stall sales ad infinitum. [ 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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