InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Which loan is Senior Posted by Greg B. on April 24, 2003 at 9:00 PM Was looking at a pre-foreclosure to buy at auction. I had a title search done it came back as follows. Owner's A sold house to Owner B in 1985 for $49,000 Statutory Warranty Deed. Owner B in 1999 takes out loan for $75,000 Deed of Trust. Owner B defaults on the $75,000 loan and NOD filed, auction set for end of April. Note there are Death certificates for the Two Owners A recorded with the Statutory Warranty deed this I have never seen. I cant figure out how the death certificates come into play in the equation. Does Owner B owe the $49,000 as Senior and the $75,000 as Junior? Im all confused over this death certificate thing, did the people die before being paid off by owner B or did they will It to owner B but owner B has to pay it off? Sorry for all the babbling. Any theories would be greatly appreciated. Follow Ups: The $75K is first.. Ward-CA- 8:13 AM, 04/25/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Was looking at a pre-foreclosure to buy at auction. I had a title search done it came back as follows. Owner's A sold house to Owner B in 1985 for $49,000 Statutory Warranty Deed. Owner B in 1999 takes out loan for $75,000 Deed of Trust. Owner B defaults on the $75,000 loan and NOD filed, auction set for end of April. Note there are Death certificates for the Two Owners A recorded with the Statutory Warranty deed this I have never seen. I cant figure out how the death certificates come into play in the equation. Does Owner B owe the $49,000 as Senior and the $75,000 as Junior? Im all confused over this death certificate thing, did the people die before being paid off by owner B or did they will It to owner B but owner B has to pay it off? Sorry for all the babbling. Any theories would be greatly appreciated. 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

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.

Copyright © 1997-2003, 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