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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Cathartic effect of a foreclosure... Posted by Ward-CA- on November 10, 2003 at 8:22 AM In Reply to: Lis Pends and Foreclosure posted by JK on November 06, 2003 at 8:59 PM : Hello : We have a note that we are foreclosing on. : The trustor was in escrow and there is some issue regarding the sale. The buyer is suing the seller to continue the sale as the seller is refusing. : How does this action affect us? : Can we still proceed with the Foreclosure? : If we get the property back, what then? : Will there be any delays for us? : Thak you. =?=?=?=?=?=?=?=?=?=?= JK, A lawsuit over ownership doesn't affect the rights of a senior recorded lien in any way. So your power of sale is intact and exerciseable in a foreclosure situation. Your foreclosure will wipe off the title of the property any and all junior liens and interests. So the ownership interest being squabbled over by the current owner and putative buyer will be history and of no effect. If there's a post-trustee's sale delay, it won't be because of any problems between the previous owner and her buyers-to-be. Hope this helps. Follow Ups: Dfn: Cathartic JK 9:49 AM, 11/10/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hello : : We have a note that we are foreclosing on. : : The trustor was in escrow and there is some issue regarding the sale. The buyer is suing the seller to continue the sale as the seller is refusing. : : How does this action affect us? : : Can we still proceed with the Foreclosure? : : If we get the property back, what then? : : Will there be any delays for us? : : Thak you. : =?=?=?=?=?=?=?=?=?=?= : JK, : A lawsuit over ownership doesn't affect the rights of a senior recorded lien in any way. So your power of sale is intact and exerciseable in a foreclosure situation. : Your foreclosure will wipe off the title of the property any and all junior liens and interests. So the ownership interest being squabbled over by the current owner and putative buyer will be history and of no effect. : If there's a post-trustee's sale delay, it won't be because of any problems between the previous owner and her buyers-to-be. : : 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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