All Forum Posts by: Matt Pfefferlen

thanks. I am buying the second for about 700k hopefully and the first is a 15k line of credit.  I see other loans from the first lien holder assigned to a new company.  I know the path to pay and I probably would since I am scared to death the first lien may foreclose and I get wiped out (doubtful but who knows down the line).  For 15k (more after interest) not sure if quiet title is worth it given everything?

Hello- I am interested in buying a 2nd position lien foreclosure at auction.   There is a really small first lien.  The first lien holder was shut down 6 years ago, but the assets were taken over by another bank.   At county records this deed of trust has not been substituted with the new bank.   Is there anything i should know?  Let's say i was going to turn around and sell it; how does the title company (or whoever responsible) or how hard do they try to find the rightful lien holder to pay?

Hello-   I might be naive or just have a case of wishful thinking....  I am interested in a trustee sale with $1.1M due to Wells Fargo.   It is close to making financial sense for me at 1.1M, but it really is a buy for me at at 1M to 1.05M.   I can just wait and hope the opening bid will be lower, but i am curious if there is a way to approach Wells Fargo to show my serious interest in hopes they lower opening bid.

Hi- I am interested in  a possible foreclosure auction that has two loans.  The first loan has a loan modification from 5 years ago and this is the loan that is foreclosing.  The loan mod lowers the interest rate, extends the loan repayment period, and defers $60k of principal at no interest.  The first loan is now foreclosing; does the deferred amount have priority over the second?  Not sure if it matters, but the loan mod was never filed with county; i saw this in the BK filings.

California has non-judicial foreclosures.  Are the documents still at the courthouse?  I don't see anything online suggesting it is there

Hello- I am in California and i am looking to buy at a trustee sale.  Can I get access to the foreclosure documents/filing?  If i can't, how do i know all of the junior liens have been notified and the proper process followed?

 Rick H.  Sorry to keep at it, but you seem knowledgeable on the subject and i hope to ease my mind.  In my reading online, i don't see anyone else warning of a senior lien claiming breach and foreclosing even though new title holder is offering to payoff.  You make the same case below on another blog....  At any rate, in my case the senior lien does not have a due on sale clause.  Does this mean  that i don't have that risk you are referring to?  Is there more you can say on why this is a real risk?

http://www.foreclosureforum.com/board/read.php?2,1576,1584#msg-1584

I looked at the senior deed of trust and dont see a due on  sale clause.  Is there anything else to be on the look out that could lead to breach?  Still dont understand why they would continue with foreclosure if someone is willing to payoff the amount due.

Rich H. - You mention a case where they could call breach and initiate a foreclosure. That is fine with me as long as i can pay it off and stop the foreclosure. Are you saying there is a chance that there is a foreclosure that i cannot stop? Basically that $15k senior loan could foreclose and i would have to bid with others on it even though i am on the deed and satisfied all other lien holders with my foreclosure purchase. The senior dead of trust is a HELOC and to my untrained eye seems very basic from reading through it. Is there something i need to really worry about here?

Hello- I am in California and i am interesting in purchasing my first foreclosure at auction.  I know that the the junior liens are wiped out from the foreclosure.  Are those liens that were wiped out specifically named in the trustees deed or in any other filing at the county recorder?