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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: 2nd Trust Deeds Posted by Lughead on January 23, 2004 at 4:46 PM In Reply to: 2nd Trust Deeds posted by Rich on January 23, 2004 at 1:49 PM : Hi, : I was wondering if someone could give me a little more information on second trust deeds in California. Basically, someone is asking to borrow a significant amount of money from me, and has offered to secure this loan with property that is already been deeded. How does one go about obtaining a second trust deed? you can write it up or have a title company do it Does the "homeowner" have any right to issue this second trust deed or do I need to get something from the bank that holds the primary deed? you get it from the owner - not the bank Also, what are my rights of foreclosure if he stops paying me but continues paying his primary debt? in the above - you may foreclose to get back what you are owed based on the 'contract' - ie note and deed of trust - : Thanks Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi, : : I was wondering if someone could give me a little more information on second trust deeds in California. Basically, someone is asking to borrow a significant amount of money from me, and has offered to secure this loan with property that is already been deeded. How does one go about obtaining a second trust deed? : you can write it up or have a title company do it : Does the "homeowner" have any right to issue this second trust deed or do I need to get something from the bank that holds the primary deed? : you get it from the owner - not the bank : Also, what are my rights of foreclosure if he stops paying me but continues paying his primary debt? : in the above - you may foreclose to get back what you are owed based on the 'contract' - ie note and deed of trust - : : Thanks 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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