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robyns_song.
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March 12, 2008 at 9:40 PM #12088March 12, 2008 at 10:11 PM #168315
NotCranky
ParticipantRight of redemption pertains to judicial foreclosures. In CA most foreclosure are done via Trustee’s sales. We really are a not getting mortgages on our proeprties we are getting loans with a promissory note and giving bare legal title to a third party the “trustee” with the trust deed that gives them the authority to forecloses for the “beneficiary” who is the entity to which(whom?) the payment is promised.
Mortgage broker and mortgage, the way we use those terms are sort of misleading, because a mortgage is a legal instrument not a loan.
In other words, if you are buying in CA or other “trust deed” states there is less to worry about from the previous owner when you buy a foreclosure. If you are buying in other states you need to find out how things work there. There may be the occasional judicial foreclosure in California but I don’t recall when and why that might happen if it does.
March 12, 2008 at 10:11 PM #168642ParticipantRight of redemption pertains to judicial foreclosures. In CA most foreclosure are done via Trustee’s sales. We really are a not getting mortgages on our proeprties we are getting loans with a promissory note and giving bare legal title to a third party the “trustee” with the trust deed that gives them the authority to forecloses for the “beneficiary” who is the entity to which(whom?) the payment is promised.
Mortgage broker and mortgage, the way we use those terms are sort of misleading, because a mortgage is a legal instrument not a loan.
In other words, if you are buying in CA or other “trust deed” states there is less to worry about from the previous owner when you buy a foreclosure. If you are buying in other states you need to find out how things work there. There may be the occasional judicial foreclosure in California but I don’t recall when and why that might happen if it does.
March 12, 2008 at 10:11 PM #168645ParticipantRight of redemption pertains to judicial foreclosures. In CA most foreclosure are done via Trustee’s sales. We really are a not getting mortgages on our proeprties we are getting loans with a promissory note and giving bare legal title to a third party the “trustee” with the trust deed that gives them the authority to forecloses for the “beneficiary” who is the entity to which(whom?) the payment is promised.
Mortgage broker and mortgage, the way we use those terms are sort of misleading, because a mortgage is a legal instrument not a loan.
In other words, if you are buying in CA or other “trust deed” states there is less to worry about from the previous owner when you buy a foreclosure. If you are buying in other states you need to find out how things work there. There may be the occasional judicial foreclosure in California but I don’t recall when and why that might happen if it does.
March 12, 2008 at 10:11 PM #168674ParticipantRight of redemption pertains to judicial foreclosures. In CA most foreclosure are done via Trustee’s sales. We really are a not getting mortgages on our proeprties we are getting loans with a promissory note and giving bare legal title to a third party the “trustee” with the trust deed that gives them the authority to forecloses for the “beneficiary” who is the entity to which(whom?) the payment is promised.
Mortgage broker and mortgage, the way we use those terms are sort of misleading, because a mortgage is a legal instrument not a loan.
In other words, if you are buying in CA or other “trust deed” states there is less to worry about from the previous owner when you buy a foreclosure. If you are buying in other states you need to find out how things work there. There may be the occasional judicial foreclosure in California but I don’t recall when and why that might happen if it does.
March 12, 2008 at 10:11 PM #168746ParticipantRight of redemption pertains to judicial foreclosures. In CA most foreclosure are done via Trustee’s sales. We really are a not getting mortgages on our proeprties we are getting loans with a promissory note and giving bare legal title to a third party the “trustee” with the trust deed that gives them the authority to forecloses for the “beneficiary” who is the entity to which(whom?) the payment is promised.
Mortgage broker and mortgage, the way we use those terms are sort of misleading, because a mortgage is a legal instrument not a loan.
In other words, if you are buying in CA or other “trust deed” states there is less to worry about from the previous owner when you buy a foreclosure. If you are buying in other states you need to find out how things work there. There may be the occasional judicial foreclosure in California but I don’t recall when and why that might happen if it does.
March 12, 2008 at 10:52 PM #168335cashflow
ParticipantThanks Rustico for the explanation!
March 12, 2008 at 10:52 PM #168663ParticipantThanks Rustico for the explanation!
March 12, 2008 at 10:52 PM #168668ParticipantThanks Rustico for the explanation!
March 12, 2008 at 10:52 PM #168694ParticipantThanks Rustico for the explanation!
March 12, 2008 at 10:52 PM #168767ParticipantThanks Rustico for the explanation!
March 12, 2008 at 10:59 PM #168350ParticipantGood luck . I hope you find some good deals.
March 12, 2008 at 10:59 PM #168675ParticipantGood luck . I hope you find some good deals.
March 12, 2008 at 10:59 PM #168681ParticipantGood luck . I hope you find some good deals.
March 12, 2008 at 10:59 PM #168709ParticipantGood luck . I hope you find some good deals.
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