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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Paying off the 2nd... Posted by Ward-CA- on March 28, 2004 at 11:26 PM In Reply to: buying the 2nd at auction posted by mike rusinas on March 28, 2004 at 4:12 PM : If I buy the 2nd at auction does that mean I now own the property and all I have to do is make the first payments (current) or refinance the first? Basically my question is do I own the property at this time. : Thank you, : Mike ================ Mike, You're not really buying the trust deed at auction—you're paying off the trust deed that’s in default, and as a consequence getting the title to the property. Your title will be subject to whatever senior liens remain. Hope this helps. Follow Ups: Re: Paying off the 2nd... Paul 5:54 PM, 05/24/05 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : If I buy the 2nd at auction does that mean I now own the property and all I have to do is make the first payments (current) or refinance the first? Basically my question is do I own the property at this time. : : Thank you, : : Mike : ================ : Mike, : You're not really buying the trust deed at auction—you're paying off the trust deed that’s in default, and as a consequence getting the title to the property. Your title will be subject to whatever senior liens remain. : Hope this helps. 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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