What does a multiple status mean?
Submitted by Alice
from CA
- 09/09/2009 - 10:26am
What does a "multiple" status mean on ForeclosureRadar when I do a search on properties at the auction? The owner has multiple properties foreclosed by the same trustee? What do I have to watch out for this kind of properties?
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It means that we believe there is more than one loan in foreclosure on the given property. We flag these as multiple to highlight that there may be two foreclosure status's. We've actually seen two loans on one property sold at auction one right after the other. If you weren't paying attention and bid on the wrong one it could be a costly mistake.
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