cant close,theres a lien!help - Posted by mary

import · January 29, 2001, 10:11am

Posted by Michael Morrongiello on January 29, 2001 at 17:22:02:

Regardless of what the Trustee “said” you very well may have taken title via trustees deed subject to that lien that may or may not have been properly wiped out during the foreclosure process.

Bidding at courthouse auctions is not for the faint of heart nor for amateurs. You risk your cash,and you can lose.

I would suggest you get a COMPETENT title examiner or title company and /or RE attorney to review the prior “NOD” notice of default, and foreclosure process, filings, etc. to see if proper procedure was followed. (this should have been done prior to the sale). Make sure the 2nd lienholder was put on notice of the sale. If they did not bid and the funds you paid were not sufficient to pay off the foreclosing 1st and pay them anything for their 2nd lien, then it seem to me that your 2nd lien should have gotten “wiped out”?

Michael Morrongiello

import · January 29, 2001, 10:11am

cant close,theres a lien!help - Posted by mary

Posted by mary on January 29, 2001 at 11:11:12:

I bought a property from a trustee sale.The attorney assured me any prior liens would be disolved as of the sale.Now its time to sell it and Im being told theres a second on the property that has not been satisfied.Now what.Ive been told this for ages.Can this be so???Help.

import · January 30, 2001, 4:00pm

Strange… - Posted by Ben(NJ)

Posted by Ben(NJ) on January 30, 2001 at 17:00:10:

I am a tax foreclosure attorney and assuming that the first mortgagee was the one foreclosing, the second mortgage should have been cut off. You should get title insurance immediately. I have heard of
senior liens being left outstanding but any half-assed foreclosure attorney should have clearly wiped out all junior liens.