What happens if a 2nd deed of trust forecloses and t...

Submitted by q_units from CA - 05/02/2009 - 9:43pm

What happens if a 2nd deed of trust forecloses and they did not wait the required 7 days after a dismissed chapter 13 case ?

You are not watching this post, click to start watching

Comments

Submitted by Sean - 05/12/2009 - 1:29am

You might be able to have the sale overturned. But consider that option carefully, as having the 2nd foreclose may be a gift if it was not a purchase money loan. I say this because many people are now finding out that they are still liable for the 2nd after the 1st forecloses, and 2nds are almost never foreclosing at this point because they give up their right to come after you for a deficiency judgement by doing so.

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

Before You Post

All comments should be relevant to the topic of the post and are subject to the terms found in our User Agreement.

Asking a Question

If you'd like to ask a new question, please start a new topic.

Please no SPAM.

We nofollow all links and promptly remove unsolicited advertisements - spamming here is a complete waste of your time, so don't bother. Vendors who actually answer questions and provide value to our forums may include links to their company or service as part of their signature.