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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] And now you have the rest of the story... Posted by Ward-CA- on October 18, 2003 at 7:19 AM In Reply to: Why his attorney?? posted by Lughead on October 16, 2003 at 11:08 PM : ward : why would the suceesful bidder need to defend the sale - what is the trustee's responsibility? : as a 3rd party - we would not have access to much of the info that the trustee/bene had reagrding the sale ... : regarding the original post, i agree that ths son should have stepped in sooner and that those who lose their homes seem to get extremely wise after the sale versus doing nothing prior =?=?=?=?=?=?=?=?=?=?= Lunkhead, If the mistake is discovered after the bidder's monies have been dispersed, the Trustee isn't going to be able to recover it in order to refund the Trustee his winning bid and start the Trustee's Sale anew, after giving notice to the missed lienor the second time around. Yes, the Trustee's butt is covered by the issuing title company via a contract of indemnification in the Trustee's Sale Guarantee, but the bidder is going to have to initiate a lawsuit before it kicks in. And even then, the bidder's legal costs aren't reimbursable. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : ward : : why would the suceesful bidder need to defend the sale - what is the trustee's responsibility? : : as a 3rd party - we would not have access to much of the info that the trustee/bene had reagrding the sale ... : : regarding the original post, i agree that ths son should have stepped in sooner and that those who lose their homes seem to get extremely wise after the sale versus doing nothing prior : =?=?=?=?=?=?=?=?=?=?= : Lunkhead, : If the mistake is discovered after the bidder's monies have been dispersed, the Trustee isn't going to be able to recover it in order to refund the Trustee his winning bid and start the Trustee's Sale anew, after giving notice to the missed lienor the second time around. : Yes, the Trustee's butt is covered by the issuing title company via a contract of indemnification in the Trustee's Sale Guarantee, but the bidder is going to have to initiate a lawsuit before it kicks in. And even then, the bidder's legal costs aren't reimbursable. : 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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