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Sale- Beneficiary Bought house for $100????

Posted by Shelly on February 04, 2004 at 2:15 PM

Need someone to explain this one to me.
A house just went to foreclosure on the 1st trust deed. I didn't go to the sale, but when I called on it, they said that it sold to the beneficiary for $100. Why so cheap? I don't see any details in it that would make the deal scarry. Here is the information on it

1st deed nod 1-21-04 308,000
HOA nod 11-3-04 1,750
3rd? 10-7-03 8,800
Trust deed and Not securing bail bond 131,666.66 1-14-04

And how can/why bail bond man put this on property if he would lose at the steps?

Any ideas? Thanks
3rd?


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