Property in foreclosure and there is a Trustee's Deed Upon Sales recorded in county recorder office. Is it a deed or a ownership transfer?

Asked by Joe45, 94601 Mon Feb 28, 2011

My bank for whatever reason postponed the trustee sales date 3 times. And finally it got sold. When I checked the recorder office, a Trustee's Deed Upon Sales was recorded. In it said the interest is transferred from the lender to Federal Home Loan Mortgage Corporation, a gov agency. What does Trustee's Deep Upon Sales mean? Is Freddie Mac the owner? My related question is - does it means my foreclosure is officially finalized? Property is in CA.

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Kamal Randha…, Agent, El Sobrante, CA
Mon Feb 28, 2011
Hello Joe,

I'm sorry to say they have officially foreclosed on your property. I'm not sure if this is the outcome you were looking for but it has now been finalized. I wish you had considered a short sale so you could have purchased again in 2 years after repairing your credit. Good luck in your future endeavors :)

If you know of others in the same situation as yourself, I do provide loan modification assistance and counseling at no charge just for future reference.
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Pacita Dimac…, Agent, Oakland, CA
Mon Feb 28, 2011
Yes. If it's recorded, the bank has already foreclosed. You've officially lost the property in a foreclosure.

In laymen's terms, "the deed is done."

Now, you should work on repairing your credit.
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Lewis Bishop, Agent, Point Richmond, CA
Mon Feb 28, 2011
Trustee's Deed Upon Sale is a deed of foreclosure. A Trustee's Deed Upon Sale is prepared after the foreclosure sale of a property and recorded in the county in which the property is located.
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