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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: judgements Posted by Verve on January 11, 2004 at 9:43 PM In Reply to: judgements posted by gcastro on January 11, 2004 at 4:47 PM All liens junior to the foreclosing lien get wiped off title. The monies raised at the auction get distributed pro tanto from highest to lowest...in other words, the funds trickle from the most senior lien on down. Example: 1st lien = 80K 2nd lien = 40K 3rd lien = judgment of 5K 1st forecloses and gets bid at auction up to 115K. In this case the 1st gets paid in full. 2nd gets 35K. Judgment lien gets 0. Owner gets 0. Hope this helps... : If a property has enough equity when it goes to the trustee sale, does a recorded judgement still get wiped out, or is it paid off at the sale, since the property had enough equity? Follow Ups: Nice, clear example... (nt) Ward-CA- 9:59 AM, 01/12/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : All liens junior to the foreclosing lien get wiped off title. : The monies raised at the auction get distributed pro tanto from highest to lowest...in other words, the funds trickle from the most senior lien on down. : Example: : 1st lien = 80K : 2nd lien = 40K : 3rd lien = judgment of 5K : 1st forecloses and gets bid at auction up to 115K. : In this case the 1st gets paid in full. 2nd gets 35K. Judgment lien gets 0. Owner gets 0. : Hope this helps... : : : If a property has enough equity when it goes to the trustee sale, does a recorded judgement still get wiped out, or is it paid off at the sale, since the property had enough equity? 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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