All Forum Posts by: Jim Wineinger

All of which is true except that part of not ever being able to sell. After a certain period of time which does vary from State to State and I do not know what Texas time period is but after that time period is up (I am thinking 7-15 years) you can get title insurance and an absolutely clear title which can not be challenged because no challange was made during the challenge period.

Thus you now have a clear and unclouded title.

By the way I do agree with the total ineffectiveness of the quit claim deed and believe they should not be used or accepted by anyone. But my point was only to explain what they are and that they are a legal document that is accepted in all states legally despite their ineffectiveness sometimes.

Yes, we do agree, except in our implimentation aspect and in the legal aspects. But then again just because any legal binding contract (such as a mortgage) is legal it does not mean it can not be challanged in court and be found ineffective because of the decision of the judge. This does not make that kind of contract not legal in that state, it usually means another clause will be added to future contracts.

But in the case of the quit claim deed, not one has ever added the needed clauses so I do agree that the holes are many and large and you might not even be able to see the paper because of those holes!!!!!!!!!!!!

I see it now, but have to scroll down all the way down to the very bottom of that list (forum home) to see it.

I usually just go to "my discussions" and "recent discussions".

Dont worry, I'll learn the easy ways soon enough.

I had not noticed any drop down menu which indicated new listings like there is for colleague's requests ect.

Just recently joined a few groups and still learning there. And in the MY POSTS section of the dashboard it might be useful to have something like a big G nest to a post that was posted in a group setting.

I am usually at work when I post here and do not have my email's available to me. Once I am able to get to a point where I do not have to work elsewhere (outside of the home) it might be a mute point for me as well.

Just a thought as I might respond a little differently if I realized it was in a group setting as opposed to the open forum setting.

Maybe something with GROUPS can be done so as to alert us when a post was made to a group that we have joined.

Maybe our groups can be added to dashboard. I believe the posts do show up on the dashboard listing but I am not sure weather it was posted in the group or in the open forum.

Maybe a mute point since most groups are open invitation anyway.

If you can always go back, then why not tell the CARDS to go back to ST LOUIS!!!!!!!!!

Welcome Celeste, but do not count on learning a lot in a little time. There are too many areas with a lot of information here. Take the time to look at all of it!!!!

Absorb and enjoy!!!!!

Just like any foreclosure sale the property (or lien) is sold to the highest bidder. Governmental liens always take on 1st position no matter when they are filed and most of them will contact all known lienholders about the impending sale. They will then come to the courthouse before the sale date and pay the taxes for the homeowner and add them to their lien. This is why most of the advertised properties do not make it to the actual sale. The lienholders come and pay those taxes and add it to the amount of the lien that they hold against the property. This removes the governmental lien and puts them back in the 1st position.

If no one pays those taxes and it does get sold at the auction then the lienholder can make a claim against any money the government has left over from what the property sold for after the government pays up the taxes the court costs and attorney fees and late fees and penelties. After all this if there is still money left over the 2nd or 3rd position lienholders can claim that money. And after all that if there is still some moneis left over the previous homeowner can claim that money!!!

It is like any other foreclosure sold for the highest bid. The 1st position is settled first, then the 2nd, then the 3rd, ect. If there is not enought money for the 2nd or 3rd, then too bad for them. This is why banks fight to be in the 1st position always and require that all other liens against the property are paid off with the proceeds of the loan.

This seems to be true for most DEED sales. LIEN sales or CERTIFICATE sales are often a different matter. Again you must check with your local county for the actual rules.

Once past the redemption period you can apply for and recieve a DEED but this deed will usually be a "Clerk and Masters deed" or "tax deed", or some other term. It will not be a WARRENTY DEED. And most title companies will not guarantee such a deed as "free and clear" until 2 to 5 years after you recieve such deed. So it is sometimes difficult to sell such a piece of property.

When dealing with these it is best to use a "buy and hold" approach. Buying a little each year and holding those properties until they can be sold and doing this each year will build that nestegg quite readily, but you will not see the rewards for a few years, unless you are lucky. But when you sell that peoperty, using the usual WARRENTY DEED you are guaranteeing to the new owner that the property is free and clear. So if there are any successful challanges a few years up the road, you just guaranteed that you will defend that property in court. You are now on the hook for attorney fees, court costs, and might even have to give them their money back!!!!

But so are the invisible stairs that it looks like you are climbing.

Love that picture!!!!!! lol

Only time will tell thus, but it will be a slow process, which I must that I should enjoy because of BP and the friends here.

Thanks to you all.

Actually, Stephani, it is the negotiating that makes the deal.

If you are interested in a property then you should use the worries put out there in the media (about the economy) to get the property at a price that will support a deal in your neighborhood.

Then be able to negotiate with the buyer showing him/her why the economy is about to improve and now is the best time to move on this deal.

Of course, the economy is just one of the negotiating tools to be used and I mention it only because it is what is in the forefront of the media these days.