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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Back to my original analysis... Posted by Ward-CA- on April 30, 2003 at 5:46 PM In Reply to: Re: With better info we're not even close.. posted by Ken Lofrano on April 30, 2003 at 11:28 AM : Ward, : Thank you for the information. To clarify my judgement including interest to date is for $175,000. That is what we put on the Judicial forclosure papers. The original recorder judgement was for around $80,000 plus interest. : Does this change your thought about my proceeding with the judicial forclosure. Remember that the guy filed for BK on friday of last week. : Thanks : Ken =•=•=•=•=•=•=•=•=•=•= Ken, Well, we’re back to my original analysis of your original post. The fact the debtor is now in bankruptcy means that it will impact the sale of the first and the Sheriff’s sale of your judgment. Both will be stopped until one or the other gets a relief from the automatic stay. Holders of first trust deeds don’t get them right away from the Court, but you’re in 3rd position, so your attorney should have a much more persuasive argument with the judge when pleading for the relief from the automatic stay. My thoughts about your judicial foreclosure revolve around your ability to squeak by the homestead hearing. If the bankruptcy holds things up too long then the debt might grow faster than the fair market value of the property. Right now I think you’d be more likely to get paid off out of the overbid at the trustee’s sale of the 1st. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Thank you for the information. To clarify my judgement including interest to date is for $175,000. That is what we put on the Judicial forclosure papers. The original recorder judgement was for around $80,000 plus interest. : : Does this change your thought about my proceeding with the judicial forclosure. Remember that the guy filed for BK on friday of last week. : : Thanks : : Ken : =•=•=•=•=•=•=•=•=•=•= : Ken, : Well, we’re back to my original analysis of your original post. : The fact the debtor is now in bankruptcy means that it will impact the sale of the first and the Sheriff’s sale of your judgment. Both will be stopped until one or the other gets a relief from the automatic stay. Holders of first trust deeds don’t get them right away from the Court, but you’re in 3rd position, so your attorney should have a much more persuasive argument with the judge when pleading for the relief from the automatic stay. : My thoughts about your judicial foreclosure revolve around your ability to squeak by the homestead hearing. If the bankruptcy holds things up too long then the debt might grow faster than the fair market value of the property. Right now I think you’d be more likely to get paid off out of the overbid at the trustee’s sale of the 1st. : Hope this helps. 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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