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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Real estate reporters Posted by Kristine-CA on August 05, 2010 at 7:34 PM In Reply to: Looks like a $97,606 foreclosure seminar... posted by Ward-CA- on August 02, 2010 at 11:36 PM Hi Ward. I had the same response when reading that article. The reporter repeatedly quotes her subjects and explains the trustee's sale process in CA as buying a lien. She also says that when there is no winning bidder, the "loan reverts" to the lender. I understand that RE reporting is a mix of human interest and data, but it sure would be nice if a paper of record like the Chronicle could use language that accurately describes the trustee's sale process. It's not like the internet doesn't have about 1000 sites and blogs that explain it for dummies. :) : : The buyers didn't buy a 2nd. : What they bought was the title to the property, by making the highest bid ($97,606) for it at the trustee's sale : ----------------Ward : ======================= : : : Interesting article in San Francisco paper. : : : : I am surprised Wells Fargo appears to have given : : the un-lucky bidder some money back. : : : : http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2010/08/02/MNRU1EL529.DTL Follow Ups: And... Rick Harmon 10:55 PM, 08/05/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hi Ward. I had the same response when reading that article. The reporter repeatedly quotes her subjects and explains the trustee's sale process in CA as buying a lien. She also says that when there is no winning bidder, the "loan reverts" to the lender. : I understand that RE reporting is a mix of human interest and data, but it sure would be nice if a paper of record like the Chronicle could use language that accurately describes the trustee's sale process. It's not like the internet doesn't have about 1000 sites and blogs that explain it for dummies. :) : : : : The buyers didn't buy a 2nd. : : What they bought was the title to the property, by making the highest bid ($97,606) for it at the trustee's sale : : ----------------Ward : : ======================= : : : : : Interesting article in San Francisco paper. : : : : : : I am surprised Wells Fargo appears to have given : : : the un-lucky bidder some money back. : : : : : : http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2010/08/02/MNRU1EL529.DTL [ 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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