How do you know if it is the first or second lender that is foreclosing in the event of a Trustee Sale?
This would be my first time at a trustee sale. I have already established the amount in tax liens the home has against it, but I don't know how to determine if it is the first or second lender that is foreclosing and if it is the second, what does this mean to me?
Answers (2)
Cindy,
If you are concerned about getting a clear title, the bank must resolve the tax and funding issues prior to sellinf the property. We would strongly recommend that you use a title company that would warrant your clear title and be responsible for determining if there are any additional concerns or liens associated with the property.
FIRST ANSWER
Contact the Trustee, they will tell you. You might also enjoy the posts referenced below.
Web Reference: http://therealestatewhisperer.blogspot.com/2008/11/buyi...
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