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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Nice, clear example... (nt) Posted by Ward-CA- on January 12, 2004 at 9:59 AM In Reply to: Re: judgements posted by Verve on January 11, 2004 at 9:43 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: 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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