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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] There's always a bid at a Trustee's Sale... Posted by Ward-CA- on October 17, 2003 at 8:58 PM In Reply to: No minimum bid at T. D. sale posted by Jc on October 17, 2003 at 8:31 PM : Dear Ward: : First is not in foreclosure/or was just brought current four days prior to the sale. The first T. D. balance plus 2nd T. D. balance = FMV. If no one bids minimum at the sale. Do you get the house back, with a Trust Deeds Deed or are you SOL. -=-=-=-=-=-=-=- There’s always a bid at a Trustee’s Sale. That’s because there’s the lender’s opening bid for the title. If no outside bidder tops the lender’s bid then the lender is the highest bidder and thus the Trustee’s Deed to the property is deeded in the lender’s name. Follow Ups: That is interesting Robyn 12:42 AM, 10/21/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Dear Ward: : : First is not in foreclosure/or was just brought current four days prior to the sale. The first T. D. balance plus 2nd T. D. balance = FMV. If no one bids minimum at the sale. Do you get the house back, with a Trust Deeds Deed or are you SOL. : -=-=-=-=-=-=-=- : There’s always a bid at a Trustee’s Sale. That’s because there’s the lender’s opening bid for the title. If no outside bidder tops the lender’s bid then the lender is the highest bidder and thus the Trustee’s Deed to the property is deeded in the lender’s name. 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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