We have foreclosed on raw land They filled for bankruptcy June 15 2007 the trustee has still not ordered that the property be put for sale Why ? My lawyer doesn’t want to file a relief of stay Why? How long, in the state of calif ,does it take to get your property back ?
Sorry B/K7 they have taken out a 2nd T/D of $250,000 and that is all the info I haveThank you for your info I think But I can’t believe i well never see my property nor money again But this is Calif
Posted in Land For Sale
Tagged bankruptcy, june, Land, lawyer, Property, raw land, relief, sale, State, state of calif, stay, trustee
How do you check for liens and taxes, what other items should be checked? The ad says “beneficiary may elect to bid less than the total amount due”, what do they mean, and who is the beneficiary? If people are still living @ the property, how does the buyer inspects, or takes possession of the property since the ad claimes ” the sale in an ‘as is’ condition, without covenant or warranty, regarding title, possession or encumbrances to satisfy the “indebtness secured by said Deed of Trust, advances thereunder, with interest as provided, and the unpaid principal of the Note secured by said Deed of Trust with interest thereon as provided in said Note, pluse fees, charges and expenses of the Trustee and of the Trusts created by said Deed of Trust”? Looks like there are so many legal language that I like to know exactly what is involved? Also Is it O.K. to approach owners, and what should be offered? A property is auctioned for smal amount of backed association dues, what happens to Mortgag?
Any of you pros out there, anyone with experiece, anyone who actually gone through this procedure, and got properties in auction, through ads in the local newspaper? Also somebody was advising of going out there and purchase 2nd loans and get 15-17% interest on it?
Posted in Homes For Sale
Tagged amount, association dues, beneficiary, check, covenant, Deed, deed of trust, encumbrances, indebtness, interest, legal language, mortgage, paper, possession, procedure, Property, Trust, trustee, trusts, unpaid principal, warranty
What other items other than liens should be looked at, and how, and where? Looking in an ad for auction, it says “beneficiary may elect to bid less than the total amount due”, what do they mean, and who is the beneficiary? If people are still living @ the property, how does the buyer take possession of the property since the ad claimes ” the sale in an ‘as is’ condition, without covenant or warranty, regarding title, possession or encumbrances to satisfy the “indebtness secured by said Deed of Trust, advances thereunder, with interest as provided, and the unpaid principal of the Note secured by said Deed of Trust with interest thereon as provided in said Note, pluse fees, charges and expenses of the Trustee and of the Trusts created by said Deed of Trust”? Looks like there are so many legal issues intended by this language in the ad that I like to know exactly what is involved? Also Is it O.K. to approach owners, and what should be offered?
All you title experts, lawyers, auction buyers can offer any idea’s how to buy auctions from newspaper ads? Any guidance on bidding on first or second mortgages?
Is beneficiary the Trustee? And why the lender does not bid again after the initial bidding?
Posted in Homes For Sale
Tagged amount, auction, beneficiary, buyer, covenant, Deed, deed of trust, encumbrances, Home, indebtness, interest, possession, Property, Trust, trustee, trusts, unpaid principal, warranty