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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: won the bid and now i'm worried Posted by trel on November 30, 2001 at 3:54 PM In Reply to: won the bid and now i'm worried posted by mike on November 30, 2001 at 11:28 AM If you were the successful bidder of the first/senior lien forelosed at auction... then all junior liens would be wiped out. Some states provide Redemption Rights for junior lienholders. Some states must authorize or approve the sale for it to be final and to have a deed issued to the successful bidder. A sale can be nulified or re-scheduled for improper notification. If a recognized junior lienholder was not notified according to the procedures used in your state... he can challenge the sale. Therefore, and before spending a dime, check the laws in your state. Check to make sure the sale will be confirmed/approved. Look into the rights of junior lienholders to redeem. If all looks good, you can rest easy. trel Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : If you were the successful bidder of the first/senior lien : forelosed at auction... then all junior liens would be wiped out. : Some states provide Redemption Rights for junior lienholders. : Some states must authorize or approve the sale for it to be final : and to have a deed issued to the successful bidder. : A sale can be nulified or re-scheduled for improper notification. : If a recognized junior lienholder was not notified according to : the procedures used in your state... he can challenge the sale. : Therefore, and before spending a dime, check the laws in your : state. Check to make sure the sale will be confirmed/approved. : Look into the rights of junior lienholders to redeem. : If all looks good, you can rest easy. : trel 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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