All Forum Posts by: John Rovin

I have a property which I am planning to sale in DFW area for Cash.

Is there any risk selling the property for Cash? Can any Fraud happen? What cautions should I take while selling the house to investor\wholesaler?

Thanks Wayne.

1. ABC Bank (FirstLien Deed Of Trust) $100,000 Date: 1/1/2000 is being foreclosed.

Does this rule apply to same day deed of trusts on different banks too?

Hi I am checking the documents of a property which is in foreclosure.

It has below deed of trusts:

1. ABC Bank (FirstLien Deed Of Trust) $100,000 Date: 1/1/2000

2. ABC Bank (Purchase Money\Second Lien Deed Of Trust) $30,000 Date: 1/1/2000

If bank is foreclosing First Lien then, is the buyer at foreclosure auction responsible for "Purchase money/second deed of trust" which is of same date and same lender?

Thanks Brian and Ron that was helpful.

Thanks Jim.

Foreclosure notice doesnt mention about XYZ lender. 

Or should they be noticed after auction and closing?

I am naive so did not get your point can you please explain your answer more.

Hi Community,

I am looking at a property which is foreclosed.

It had below events on property:

1\1\1999 Deed of trust -- Owner1 -- ABC Mortgage1 (Subsequently Released)

1\1\2000 Deed of trust --Owner1 -- XYZ Mortgage

2\1\2000 Release --Owner1 --ABC Mortgage1

1\1\2002 General Warranty Deed With Vendor's Lien
Owner1 Grantor
Owner2 Grantee
Note: Document also mentions about DEF Mortgage being first Lien mortgage

1\1\2002 Deed of Trust --Owner2 --DEF Mortgage

Appointment of substitute trustee on DEF Mortgage to Owner2


Considering above events on property will the XYZ Mortgage of owner1 wipe out when the foreclosure auction happens on "Owner2 --DEF Mortgage" ?
Or what will happen if I buy the property?

Thanks,
John

Thanks Alex, Kim and Rick.

Thanks Wayne, the Trustee Sale notice does not have children's name. Should that be a concern?

Hi Folks,

I am studying a title where 

ABC Husband and XYZ wife signed a Deed of Trust to a Bank

After few years husband died, without writing any will.

They created affidavit of heirship for Children, and wife XYZ created Special warranty deed for their three Children and transferred the property.

Now property went in default and bank is foreclosing the deed of trust signed by ABC and XYZ.

So now the owners are the children, If I buy at foreclosure auction at county then what happens?

Thanks in advance,

John

Thanks Chris.