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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Assignments Posted by Ward-CA- on April 14, 2001 at 8:30 PM In Reply to: Assignments posted by Jay B. on April 11, 2001 at 4:49 PM : Ward : I am looking at possibly purchasing a property at Trustee's Sale (L.A. area). There is a first and a second on the property, and the first is foreclosing. The foreclosure notice service which I subscribe to shows a different Trustee and Beneficiary for the foreclosing first than deed of trust recorded with the county. There doesn't seem to be any recorded assignment from the original Trustee and the original Beneficiary to the new Trustee/Beneificiary. Is this a problem or something I should be concerned about? =•=•=•=•=•=•=•=•=•=•=•= Jay, it's the beneficiary of a trust deed who gets to choose whom she wants to conduct the foreclosure on her delinquent trust deed holding. Substituting one trustee for another at the time of initiating a foreclosure is common. Oftentimes it's done because the substituted trustee agrees to wait for her fees to be paid at the end of the process rather than getting a large deposit from the foreclosing beneficiary up front. No, as a potential bidder at a trustee's sale, it shouldn't matter at all to you whether or not the beneficiary has switched trustees. Follow Ups: Beneficiary too??? Jay B. 4:12 PM, 04/16/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward : : I am looking at possibly purchasing a property at Trustee's Sale (L.A. area). There is a first and a second on the property, and the first is foreclosing. The foreclosure notice service which I subscribe to shows a different Trustee and Beneficiary for the foreclosing first than deed of trust recorded with the county. There doesn't seem to be any recorded assignment from the original Trustee and the original Beneficiary to the new Trustee/Beneificiary. Is this a problem or something I should be concerned about? : =•=•=•=•=•=•=•=•=•=•=•= : Jay, it's the beneficiary of a trust deed who gets to choose whom she wants to conduct the foreclosure on her delinquent trust deed holding. Substituting one trustee for another at the time of initiating a foreclosure is common. Oftentimes it's done because the substituted trustee agrees to wait for her fees to be paid at the end of the process rather than getting a large deposit from the foreclosing beneficiary up front. : No, as a potential bidder at a trustee's sale, it shouldn't matter at all to you whether or not the beneficiary has switched trustees. Optional Link URL: Link Title: Optional Image URL: [ 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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