What happens when…

[LeaSD]

The first, second, third mortgage or deed (mattering if you are in a mortgage state or a deed of trust state) is the order in which your position is to the title of the property. Whatever position you are in – to get to title you must make whole anyone who is in front of you and anyone behind you gets wiped out. Therefore for the mother to foreclose on the property in the second position, she needs to pay off the first lien holder. If there was anyone in the third position (let’s say a contractor did work on the house and did not get paid so s/he put a mechanics lien against the property) this person in the third position would get wiped out and now only have an unsecured debt against the person.

If you lease was signed PRIOR to the mortgage holder and of record then your lease would actually be in front of their lien and in a foreclosure they would have to recognize your lease. Of course if it is a month to month with either party allowed to cancel with 30 days notice- they step into the same rights as the original lessor. If your lease was signed after the mortgage – they do not have to honor your lease but nothing would prevent you and the party that forecloses to make new arrangements.

My take – it is a mess – why waste time dealing with it – take control and choose to rent a place without all the drama.

[temeculaguy]

I don’t know the process of a second foreclosure but isn’t the threat of having to move on short notice reason enough to leave now and set up somewhere more stable. Forget the “what you might get for free” and just bail after you’ve gotten the time you have paid for. Don’t pay the January rent and move in January, give them notice now. I think that whatever lease you are in has been broken by them a few times over. Regardless of the procedure, if your landlord doesn’t pay for the house, eventually it isn’t his house. A Sept. NOD means time is running out anyway, there are only a few months left, just take your dollars elsewhere.

[temeculaguy]

I don’t know the process of a second foreclosure but isn’t the threat of having to move on short notice reason enough to leave now and set up somewhere more stable. Forget the “what you might get for free” and just bail after you’ve gotten the time you have paid for. Don’t pay the January rent and move in January, give them notice now. I think that whatever lease you are in has been broken by them a few times over. Regardless of the procedure, if your landlord doesn’t pay for the house, eventually it isn’t his house. A Sept. NOD means time is running out anyway, there are only a few months left, just take your dollars elsewhere.

[temeculaguy]

I don’t know the process of a second foreclosure but isn’t the threat of having to move on short notice reason enough to leave now and set up somewhere more stable. Forget the “what you might get for free” and just bail after you’ve gotten the time you have paid for. Don’t pay the January rent and move in January, give them notice now. I think that whatever lease you are in has been broken by them a few times over. Regardless of the procedure, if your landlord doesn’t pay for the house, eventually it isn’t his house. A Sept. NOD means time is running out anyway, there are only a few months left, just take your dollars elsewhere.

[temeculaguy]

I don’t know the process of a second foreclosure but isn’t the threat of having to move on short notice reason enough to leave now and set up somewhere more stable. Forget the “what you might get for free” and just bail after you’ve gotten the time you have paid for. Don’t pay the January rent and move in January, give them notice now. I think that whatever lease you are in has been broken by them a few times over. Regardless of the procedure, if your landlord doesn’t pay for the house, eventually it isn’t his house. A Sept. NOD means time is running out anyway, there are only a few months left, just take your dollars elsewhere.

[temeculaguy]

I don’t know the process of a second foreclosure but isn’t the threat of having to move on short notice reason enough to leave now and set up somewhere more stable. Forget the “what you might get for free” and just bail after you’ve gotten the time you have paid for. Don’t pay the January rent and move in January, give them notice now. I think that whatever lease you are in has been broken by them a few times over. Regardless of the procedure, if your landlord doesn’t pay for the house, eventually it isn’t his house. A Sept. NOD means time is running out anyway, there are only a few months left, just take your dollars elsewhere.

[Anonymous]

TG, thanks for the reply. You’re right, this situation is not worth the worry. It’s time to get out. My son is fine with moving. It seems I was projecting my concerns about his ability to adapt to new surroundings onto him even though he has never had a problem before. No worries.

[Anonymous]

TG, thanks for the reply. You’re right, this situation is not worth the worry. It’s time to get out. My son is fine with moving. It seems I was projecting my concerns about his ability to adapt to new surroundings onto him even though he has never had a problem before. No worries.

[Anonymous]

TG, thanks for the reply. You’re right, this situation is not worth the worry. It’s time to get out. My son is fine with moving. It seems I was projecting my concerns about his ability to adapt to new surroundings onto him even though he has never had a problem before. No worries.

[Anonymous]

TG, thanks for the reply. You’re right, this situation is not worth the worry. It’s time to get out. My son is fine with moving. It seems I was projecting my concerns about his ability to adapt to new surroundings onto him even though he has never had a problem before. No worries.

[Anonymous]

TG, thanks for the reply. You’re right, this situation is not worth the worry. It’s time to get out. My son is fine with moving. It seems I was projecting my concerns about his ability to adapt to new surroundings onto him even though he has never had a problem before. No worries.

[bubba99]

Mom’s best bets are to foreclose from the second position, or let to let the first foreclose and simply bid on the property. This would effectively wipe out any thirds, and in the second position, she would get any “overages” from the sale. Her paying the first to keep it out of foreclosure is a mistake.

From your perspective, if mom can actually pay off the first via a new loan, or at auction, no need to move. She will probably still want a good renter.

But mom really needs to get some professional help to make any of this work, and possible protect herself from what is becomming an abusive son who might see “other” solutions to his problem. There seems to be no limit to the damage family arguments can cause to the family members.

[bubba99]

Mom’s best bets are to foreclose from the second position, or let to let the first foreclose and simply bid on the property. This would effectively wipe out any thirds, and in the second position, she would get any “overages” from the sale. Her paying the first to keep it out of foreclosure is a mistake.

From your perspective, if mom can actually pay off the first via a new loan, or at auction, no need to move. She will probably still want a good renter.

But mom really needs to get some professional help to make any of this work, and possible protect herself from what is becomming an abusive son who might see “other” solutions to his problem. There seems to be no limit to the damage family arguments can cause to the family members.

[bubba99]

Mom’s best bets are to foreclose from the second position, or let to let the first foreclose and simply bid on the property. This would effectively wipe out any thirds, and in the second position, she would get any “overages” from the sale. Her paying the first to keep it out of foreclosure is a mistake.

From your perspective, if mom can actually pay off the first via a new loan, or at auction, no need to move. She will probably still want a good renter.

But mom really needs to get some professional help to make any of this work, and possible protect herself from what is becomming an abusive son who might see “other” solutions to his problem. There seems to be no limit to the damage family arguments can cause to the family members.

[bubba99]

Mom’s best bets are to foreclose from the second position, or let to let the first foreclose and simply bid on the property. This would effectively wipe out any thirds, and in the second position, she would get any “overages” from the sale. Her paying the first to keep it out of foreclosure is a mistake.

From your perspective, if mom can actually pay off the first via a new loan, or at auction, no need to move. She will probably still want a good renter.

But mom really needs to get some professional help to make any of this work, and possible protect herself from what is becomming an abusive son who might see “other” solutions to his problem. There seems to be no limit to the damage family arguments can cause to the family members.

[Author]

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