Home › Forums › Closed Forums › Buying and Selling RE › Question for SD Realtor or any other trustee sale experts….
- This topic has 50 replies, 3 voices, and was last updated 13 years, 4 months ago by bearishgurl.
-
AuthorPosts
-
January 6, 2011 at 8:50 PM #649726January 6, 2011 at 9:55 PM #648612bearishgurlParticipant
[quote=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.[/quote]
Understand, SDR. In addition, they are also subordinate to IRS and FTB (junior) liens. Hence, the 9/7/10 sale (opening bid) amount and previous NOS reflective of that jr lien amt added to their defaulted note (+ late chgs/trustees fees).
edit: this particular “do-over” machination by the defaulting lender will not only fix the erroneous defaulted sum on their books, but more importantly, it will enable them to deliver clear title to a prospective buyer at such time as they choose to market the property.
2nd edit: Upon further examination of UCGal’s foreclosure data, it appears that the 2nd trustees sale amount was actually higher (possibly to reflect that the bene (lender) paid the Meeks’ tax lien and added this amount onto the defaulted TD and note). When they got stuck paying it, they rescinded the sale and filed a new NOS, reflective of the new defaulted amt PLUS the paid-off IRS lien.
The lower opening bid amount on the 2nd sale was perhaps set by the bene to entice potential bidders . . . but no takers here.
Sorry for the confusion. My assessment still stands that it was a do-over to reflect the payoff of that IRS lien.
January 6, 2011 at 9:55 PM #648683bearishgurlParticipant[quote=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.[/quote]
Understand, SDR. In addition, they are also subordinate to IRS and FTB (junior) liens. Hence, the 9/7/10 sale (opening bid) amount and previous NOS reflective of that jr lien amt added to their defaulted note (+ late chgs/trustees fees).
edit: this particular “do-over” machination by the defaulting lender will not only fix the erroneous defaulted sum on their books, but more importantly, it will enable them to deliver clear title to a prospective buyer at such time as they choose to market the property.
2nd edit: Upon further examination of UCGal’s foreclosure data, it appears that the 2nd trustees sale amount was actually higher (possibly to reflect that the bene (lender) paid the Meeks’ tax lien and added this amount onto the defaulted TD and note). When they got stuck paying it, they rescinded the sale and filed a new NOS, reflective of the new defaulted amt PLUS the paid-off IRS lien.
The lower opening bid amount on the 2nd sale was perhaps set by the bene to entice potential bidders . . . but no takers here.
Sorry for the confusion. My assessment still stands that it was a do-over to reflect the payoff of that IRS lien.
January 6, 2011 at 9:55 PM #649269bearishgurlParticipant[quote=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.[/quote]
Understand, SDR. In addition, they are also subordinate to IRS and FTB (junior) liens. Hence, the 9/7/10 sale (opening bid) amount and previous NOS reflective of that jr lien amt added to their defaulted note (+ late chgs/trustees fees).
edit: this particular “do-over” machination by the defaulting lender will not only fix the erroneous defaulted sum on their books, but more importantly, it will enable them to deliver clear title to a prospective buyer at such time as they choose to market the property.
2nd edit: Upon further examination of UCGal’s foreclosure data, it appears that the 2nd trustees sale amount was actually higher (possibly to reflect that the bene (lender) paid the Meeks’ tax lien and added this amount onto the defaulted TD and note). When they got stuck paying it, they rescinded the sale and filed a new NOS, reflective of the new defaulted amt PLUS the paid-off IRS lien.
The lower opening bid amount on the 2nd sale was perhaps set by the bene to entice potential bidders . . . but no takers here.
Sorry for the confusion. My assessment still stands that it was a do-over to reflect the payoff of that IRS lien.
January 6, 2011 at 9:55 PM #649406bearishgurlParticipant[quote=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.[/quote]
Understand, SDR. In addition, they are also subordinate to IRS and FTB (junior) liens. Hence, the 9/7/10 sale (opening bid) amount and previous NOS reflective of that jr lien amt added to their defaulted note (+ late chgs/trustees fees).
edit: this particular “do-over” machination by the defaulting lender will not only fix the erroneous defaulted sum on their books, but more importantly, it will enable them to deliver clear title to a prospective buyer at such time as they choose to market the property.
2nd edit: Upon further examination of UCGal’s foreclosure data, it appears that the 2nd trustees sale amount was actually higher (possibly to reflect that the bene (lender) paid the Meeks’ tax lien and added this amount onto the defaulted TD and note). When they got stuck paying it, they rescinded the sale and filed a new NOS, reflective of the new defaulted amt PLUS the paid-off IRS lien.
The lower opening bid amount on the 2nd sale was perhaps set by the bene to entice potential bidders . . . but no takers here.
Sorry for the confusion. My assessment still stands that it was a do-over to reflect the payoff of that IRS lien.
January 6, 2011 at 9:55 PM #649731bearishgurlParticipant[quote=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.[/quote]
Understand, SDR. In addition, they are also subordinate to IRS and FTB (junior) liens. Hence, the 9/7/10 sale (opening bid) amount and previous NOS reflective of that jr lien amt added to their defaulted note (+ late chgs/trustees fees).
edit: this particular “do-over” machination by the defaulting lender will not only fix the erroneous defaulted sum on their books, but more importantly, it will enable them to deliver clear title to a prospective buyer at such time as they choose to market the property.
2nd edit: Upon further examination of UCGal’s foreclosure data, it appears that the 2nd trustees sale amount was actually higher (possibly to reflect that the bene (lender) paid the Meeks’ tax lien and added this amount onto the defaulted TD and note). When they got stuck paying it, they rescinded the sale and filed a new NOS, reflective of the new defaulted amt PLUS the paid-off IRS lien.
The lower opening bid amount on the 2nd sale was perhaps set by the bene to entice potential bidders . . . but no takers here.
Sorry for the confusion. My assessment still stands that it was a do-over to reflect the payoff of that IRS lien.
January 7, 2011 at 9:45 AM #648727UCGalParticipantThanks.
I’ve seen a few of these “double” foreclosures… It’s good to know the banks are checking their paperwork and doing do-overs where necessary.
January 7, 2011 at 9:45 AM #648798UCGalParticipantThanks.
I’ve seen a few of these “double” foreclosures… It’s good to know the banks are checking their paperwork and doing do-overs where necessary.
January 7, 2011 at 9:45 AM #649384UCGalParticipantThanks.
I’ve seen a few of these “double” foreclosures… It’s good to know the banks are checking their paperwork and doing do-overs where necessary.
January 7, 2011 at 9:45 AM #649520UCGalParticipantThanks.
I’ve seen a few of these “double” foreclosures… It’s good to know the banks are checking their paperwork and doing do-overs where necessary.
January 7, 2011 at 9:45 AM #649846UCGalParticipantThanks.
I’ve seen a few of these “double” foreclosures… It’s good to know the banks are checking their paperwork and doing do-overs where necessary.
January 7, 2011 at 1:58 PM #648877UCGalParticipantJust came across another one…
http://www.sdlookup.com/Property-6627C84D-4111_Mt_Bross_Ave_San_Diego_CA_92111#114884
This time it looks like it sold on the steps… and if I’m reading it right – they reduced the final sales price by $3k… but was it a brand new sale, or was the previous buyer told tough luck?
January 7, 2011 at 1:58 PM #648948UCGalParticipantJust came across another one…
http://www.sdlookup.com/Property-6627C84D-4111_Mt_Bross_Ave_San_Diego_CA_92111#114884
This time it looks like it sold on the steps… and if I’m reading it right – they reduced the final sales price by $3k… but was it a brand new sale, or was the previous buyer told tough luck?
January 7, 2011 at 1:58 PM #649534UCGalParticipantJust came across another one…
http://www.sdlookup.com/Property-6627C84D-4111_Mt_Bross_Ave_San_Diego_CA_92111#114884
This time it looks like it sold on the steps… and if I’m reading it right – they reduced the final sales price by $3k… but was it a brand new sale, or was the previous buyer told tough luck?
January 7, 2011 at 1:58 PM #649670UCGalParticipantJust came across another one…
http://www.sdlookup.com/Property-6627C84D-4111_Mt_Bross_Ave_San_Diego_CA_92111#114884
This time it looks like it sold on the steps… and if I’m reading it right – they reduced the final sales price by $3k… but was it a brand new sale, or was the previous buyer told tough luck?
-
AuthorPosts
- The forum ‘Buying and Selling RE’ is closed to new topics and replies.