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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Homestead's a nullity against a voluntary lien. Posted by Ward-CA- on October 03, 2001 at 7:54 PM In Reply to: Homestead posted by Jim on October 03, 2001 at 2:24 PM : Given: 1st and 2nd on sfr. 1st in recorded default. Investor negotiating for 2nd. Trustor files Homestead before assignment of 2nd TD can be recorded. : Questions: What effect does the Homestead declaration have on the value of the 2nd note? Does the Homestead only effect liens filed after the date of the Homestead filing? Since the assignment of bene does not change the position or the recording date of the 2nd am I correct in assuming the 2nd ok to buy at deep discount? : Thanks! =•=•=•=•=•=•=•=•=•=•=•= Jim, a homestead is an effective defense against a judicial foreclosure, but it means absolutely nothing regarding a non-judicial trustee’s sale. A homestead doesn’t affect the value of any voluntary lien, like a 1st or a 2nd regardless of when the homestead was recorded. Since a homestead is meaningless as far as any voluntary lien is concerned its presence or absence won’t have any bearing on the value of such liens. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Given: 1st and 2nd on sfr. 1st in recorded default. Investor negotiating for 2nd. Trustor files Homestead before assignment of 2nd TD can be recorded. : : Questions: What effect does the Homestead declaration have on the value of the 2nd note? Does the Homestead only effect liens filed after the date of the Homestead filing? Since the assignment of bene does not change the position or the recording date of the 2nd am I correct in assuming the 2nd ok to buy at deep discount? : : Thanks! : =•=•=•=•=•=•=•=•=•=•=•= : Jim, a homestead is an effective defense against a judicial foreclosure, but it means absolutely nothing regarding a non-judicial trustee’s sale. A homestead doesn’t affect the value of any voluntary lien, like a 1st or a 2nd regardless of when the homestead was recorded. : Since a homestead is meaningless as far as any voluntary lien is concerned its presence or absence won’t have any bearing on the value of such liens. 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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