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 ] Re: 2nd Deed of Trust Posted by frankCA on October 02, 2003 at 10:37 AM In Reply to: 2nd Deed of Trust posted by Kim Boatright on October 01, 2003 at 0:03 AM my Mother-in-Law holds. Apparently the property was to be sold and my inlaw was supposed to be paid off, but this did not happen.(escrow fell through) We feel that the said owners might not be able to sell the house and be behind in the payments to the point of foreclosure. How will this affect the 2nd Deed of Trust. Will my Mother-in-Law receive her money if the house is foreclosed and sold by the bank? My husband holds Power-of-Attorney for his mother who has recently had a stroke and we need to make sure her interests are protected. Thank you for any information you can provide. Hi Kim Just to add to what you already have been told. You didn't say what the unpaid balance is on mom's second. Perhaps when you add up all the costs mentioned by Sean and Bill it might not be worth the effort. It may be easier to discount the note for cash and add some of your $$$ to this amount and not ever tell mom what happened. Please get a title search before you take a Deed In Lieu of Foreclosure just in case something come along with the title that you don't want. It's nice of you to take care of mom! Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : my Mother-in-Law holds. Apparently the property was to be sold and my inlaw was supposed to be paid off, but this did not happen.(escrow fell through) We feel that the said owners might not be able to sell the house and be behind in the payments to the point of foreclosure. How will this affect the 2nd Deed of Trust. Will my Mother-in-Law receive her money if the house is foreclosed and sold by the bank? My husband holds Power-of-Attorney for his mother who has recently had a stroke and we need to make sure her interests are protected. Thank you for any information you can provide. : Hi Kim : Just to add to what you already have been told. You didn't say what the unpaid balance is on mom's second. Perhaps when you add up all the costs mentioned by Sean and Bill it might not be worth the effort. It may be easier to discount the note for cash and add some of your $$$ to this amount and not ever tell mom what happened. Please get a title search before you take a Deed In Lieu of Foreclosure just in case something come along with the title that you don't want. : It's nice of you to take care of mom! 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. Read our privacy policy.

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