Question for SD Realtor or any other trustee sale experts….

[bearishgurl]

FWIW, I have seen lenders paying taxes on properties they have not yet even filed a NOD on but which have been in default more than a year. These particular loans had impounds (which may or may not have sufficient funds to pay taxes/ins prems) and the lender fully intends on foreclosing in the future if the trustor does not qualify for a permanent loan modification. The lender, in these instances, is trying to avoid the 10% penalty (in CA) for paying the taxes late. In these cases, the lenders very likely believe they will end up with these properties.

[bearishgurl]

[quote=SD Realtor]Not sure UCG. It could be as BG was saying but honestly I am not sure. Seems like a trustees deed was filed but could not tell ya.[/quote]

Like, I said, just taking a stab at it, here, without examining such chain of title myself. I graduated from a class in “Creation and Enforcement of Security Devices” (Pts I & II) with “honors” in 1982. Since this material is what makes the “world go ’round,” it’s still implanted in my brain, lol.

Seems the law(s) haven’t changed too much in this area since then, if at all :=]

edit: I forgot to mention my observation that the Trustees Sale Number was the same on both sale dates. This was the main reason for my stating that it was a perfunctory “back-to-bene do-over” (to make sure all the lender’s i’s were properly dotted and t’s crossed).

[bearishgurl]

[quote=SD Realtor]Not sure UCG. It could be as BG was saying but honestly I am not sure. Seems like a trustees deed was filed but could not tell ya.[/quote]

Like, I said, just taking a stab at it, here, without examining such chain of title myself. I graduated from a class in “Creation and Enforcement of Security Devices” (Pts I & II) with “honors” in 1982. Since this material is what makes the “world go ’round,” it’s still implanted in my brain, lol.

Seems the law(s) haven’t changed too much in this area since then, if at all :=]

edit: I forgot to mention my observation that the Trustees Sale Number was the same on both sale dates. This was the main reason for my stating that it was a perfunctory “back-to-bene do-over” (to make sure all the lender’s i’s were properly dotted and t’s crossed).

[bearishgurl]

[quote=SD Realtor]Not sure UCG. It could be as BG was saying but honestly I am not sure. Seems like a trustees deed was filed but could not tell ya.[/quote]

Like, I said, just taking a stab at it, here, without examining such chain of title myself. I graduated from a class in “Creation and Enforcement of Security Devices” (Pts I & II) with “honors” in 1982. Since this material is what makes the “world go ’round,” it’s still implanted in my brain, lol.

Seems the law(s) haven’t changed too much in this area since then, if at all :=]

edit: I forgot to mention my observation that the Trustees Sale Number was the same on both sale dates. This was the main reason for my stating that it was a perfunctory “back-to-bene do-over” (to make sure all the lender’s i’s were properly dotted and t’s crossed).

[bearishgurl]

[quote=SD Realtor]Not sure UCG. It could be as BG was saying but honestly I am not sure. Seems like a trustees deed was filed but could not tell ya.[/quote]

Like, I said, just taking a stab at it, here, without examining such chain of title myself. I graduated from a class in “Creation and Enforcement of Security Devices” (Pts I & II) with “honors” in 1982. Since this material is what makes the “world go ’round,” it’s still implanted in my brain, lol.

Seems the law(s) haven’t changed too much in this area since then, if at all :=]

edit: I forgot to mention my observation that the Trustees Sale Number was the same on both sale dates. This was the main reason for my stating that it was a perfunctory “back-to-bene do-over” (to make sure all the lender’s i’s were properly dotted and t’s crossed).

[bearishgurl]

[quote=SD Realtor]Not sure UCG. It could be as BG was saying but honestly I am not sure. Seems like a trustees deed was filed but could not tell ya.[/quote]

Like, I said, just taking a stab at it, here, without examining such chain of title myself. I graduated from a class in “Creation and Enforcement of Security Devices” (Pts I & II) with “honors” in 1982. Since this material is what makes the “world go ’round,” it’s still implanted in my brain, lol.

Seems the law(s) haven’t changed too much in this area since then, if at all :=]

edit: I forgot to mention my observation that the Trustees Sale Number was the same on both sale dates. This was the main reason for my stating that it was a perfunctory “back-to-bene do-over” (to make sure all the lender’s i’s were properly dotted and t’s crossed).

[SD Realtor]

bg in addition to not wanting to get stuck with any tax penalties the lenders will pay the taxes as they are subordinate to the taxman.

[SD Realtor]

bg in addition to not wanting to get stuck with any tax penalties the lenders will pay the taxes as they are subordinate to the taxman.

[SD Realtor]

bg in addition to not wanting to get stuck with any tax penalties the lenders will pay the taxes as they are subordinate to the taxman.

[SD Realtor]

bg in addition to not wanting to get stuck with any tax penalties the lenders will pay the taxes as they are subordinate to the taxman.

[SD Realtor]

bg in addition to not wanting to get stuck with any tax penalties the lenders will pay the taxes as they are subordinate to the taxman.

[bearishgurl]

A tax bill search reveals that “Lamont & Felissa Meeks” are the defaulting trustors

A cursory search of ARCC reveals:

9/16/10 Trustees Deed filed (back to bene)

11/10/10 the Meeks IRS lien (which had been paid off prior to sale) was released.

11/29/10 Recission filed by bene

12/16/10 New NOS filed for reduced amount

Note: the IRS and FTB typically MAY NOT release their liens until up to a year or more AFTER the taxpayer filed the missing tax returns or prevailed in tax court, unless there is an atty/enrolled agent in their corner riding their a$$. This is likely what happened here.

[bearishgurl]

A tax bill search reveals that “Lamont & Felissa Meeks” are the defaulting trustors

A cursory search of ARCC reveals:

9/16/10 Trustees Deed filed (back to bene)

11/10/10 the Meeks IRS lien (which had been paid off prior to sale) was released.

11/29/10 Recission filed by bene

12/16/10 New NOS filed for reduced amount

Note: the IRS and FTB typically MAY NOT release their liens until up to a year or more AFTER the taxpayer filed the missing tax returns or prevailed in tax court, unless there is an atty/enrolled agent in their corner riding their a$$. This is likely what happened here.

[bearishgurl]

A tax bill search reveals that “Lamont & Felissa Meeks” are the defaulting trustors

A cursory search of ARCC reveals:

9/16/10 Trustees Deed filed (back to bene)

11/10/10 the Meeks IRS lien (which had been paid off prior to sale) was released.

11/29/10 Recission filed by bene

12/16/10 New NOS filed for reduced amount

Note: the IRS and FTB typically MAY NOT release their liens until up to a year or more AFTER the taxpayer filed the missing tax returns or prevailed in tax court, unless there is an atty/enrolled agent in their corner riding their a$$. This is likely what happened here.

[bearishgurl]

A tax bill search reveals that “Lamont & Felissa Meeks” are the defaulting trustors

A cursory search of ARCC reveals:

9/16/10 Trustees Deed filed (back to bene)

11/10/10 the Meeks IRS lien (which had been paid off prior to sale) was released.

11/29/10 Recission filed by bene

12/16/10 New NOS filed for reduced amount

Note: the IRS and FTB typically MAY NOT release their liens until up to a year or more AFTER the taxpayer filed the missing tax returns or prevailed in tax court, unless there is an atty/enrolled agent in their corner riding their a$$. This is likely what happened here.

[Author]

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