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Foreclosure in Dana Point : Real Estate Advice

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  • Local Info6
  • Home Buying12
  • Home Selling6
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Activity 3
Sat Jan 28, 2012
Mark Gundlach answered:
Have you tried or considered a short sale? We can postpone the Notice of Trustee sale all the way up to the morning of the sale. The important thing is to get counseled on the best option for you.

Mark Gundlach, Realtor
Realty One Group
949.307.5944 cell/text
DRE #01738431
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0 votes 15 answers Share Flag
Thu Jan 26, 2012
Ellis San Jose answered:
In a Deed in Lieu, the person or entity who takes title from the grantor is responsible for all liens attached to the property, or in other words takes title subject-to all pre-exisiting liens.

The 1st position has no requirement to assist the 2nd lien holder.

If I was the 2nd lien holder I would foreclose on the property if there was equity. If the property came back to you the lender on the 2nd loan you would take title "subject to" the 1st loan & any liens senior to yours.

If there is not any equity then I might approach the 1st TD holder & try to negotiate a solution (loan mod or short sale)
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0 votes 19 answers Share Flag
Tue Oct 28, 2008
Eric Israel answered:
Not sure what site you are getting your information but as you can see this is a 2 bedroom attached bank owned condo

Let me know if I can help you.

You can also view all the bank owned homes in OC on my website
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