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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Holder in due course protection? Posted by Ward-CA- on July 12, 2003 at 4:42 PM In Reply to: Holder in due course protection? posted by Travis-CA on July 11, 2003 at 11:00 PM : Hi Ward, : Last night I attended a RE club meeting where a speaker was speaking on the topic of foreclosures and she mentioned an interesting point that didn’t seem right to me. She said that by California law a senior beneficiary can deny a junior holder in due course the right to reinstate the senior liens, because the holder in due course was not the originating party. Is this in fact true? If so how can a junior holder in due course protect their interest in this situation? : Thanks, : : Travis ================ Travis, Ask her for the applicable code section. I doubt there'd be that much trade in performing and non-performing notes and deeds of trust if the new owner in due course couldn't protect themselves from the foreclosure of the 1st by exercising the Right of Reinstatement inherent to all junior lienholders. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward, : : Last night I attended a RE club meeting where a speaker was speaking on the topic of foreclosures and she mentioned an interesting point that didn’t seem right to me. She said that by California law a senior beneficiary can deny a junior holder in due course the right to reinstate the senior liens, because the holder in due course was not the originating party. Is this in fact true? If so how can a junior holder in due course protect their interest in this situation? : : : Thanks, : : : : Travis : ================ : Travis, : Ask her for the applicable code section. : I doubt there'd be that much trade in performing and non-performing notes and deeds of trust if the new owner in due course couldn't protect themselves from the foreclosure of the 1st by exercising the Right of Reinstatement inherent to all junior lienholders. 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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