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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: bidding on a third mortgage at a trust deed sale. Posted by bh1240 on February 27, 2004 at 8:23 PM In Reply to: bidding on a third mortgage at a trust deed sale. posted by Kit Brixey on February 27, 2004 at 11:54 AM : I was wondering how I take over the control of the first and second mortgage loans, after I win the bid at the sale of the third mortgage? : Also, when bidding on the third position, do I bid just enough to get the third position or do I have to bid up to my maximum bid on the value of the house? : What happens to the extra money between the opening bid and the amount I bid on the third? Does the third beneficiary get it? I'm up against the clock, as usual. : Thank you, Kit 1)you need to contact the first and second mortgage loan company showing you are the new home owner,fax them the recorded trustee deed. ask them how to reinstate or payoff the loan. they will give you instruction after they receive your request. 2)you must be the highest bidder,even 1 penny higher than other bidder or opening bid. 3) it goes to borrower or pervious owner. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I was wondering how I take over the control of the first and second mortgage loans, after I win the bid at the sale of the third mortgage? : : Also, when bidding on the third position, do I bid just enough to get the third position or do I have to bid up to my maximum bid on the value of the house? : : What happens to the extra money between the opening bid and the amount I bid on the third? Does the third beneficiary get it? I'm up against the clock, as usual. : : Thank you, Kit : 1)you need to contact the first and second mortgage loan company showing you are the new home owner,fax them the recorded trustee deed. ask them how to reinstate or payoff the loan. they will give you instruction after they receive your request. : 2)you must be the highest bidder,even 1 penny higher than other bidder or opening bid. : 3) it goes to borrower or pervious owner. 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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