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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Your post should be stickied as to what can happen when you don't get trained first. Posted by JK (the other JK) on December 27, 2007 at 12:13 AM In Reply to: Re: Trustee Sale from hell! posted by Tom on December 27, 2007 at 11:41 AM : You write a lot out of anger, but give little info particularily no dates and no amounts. I presume that you didn't do your own independent title search. : How much is the property worth, what is the total owed on the first, and what was your bid amount on the 2nd? : Did you already pay the trustee the full bid amount on the second? : If not, how much deposit did you pay and when must you pay the full amount? : Did you buy to flip or live in? : When is the 1st trustee sale? : BTW a second foreclosure on the same house in a short period of time probably doesn't matter per se on a person's credit record. Even over a longer period (say up to two years or so in most situations) one would have to distinguish between say a delinquent refinancing and the original foreclosure being botched and subsequently reforeclosed. Your post should be titled "I screwed up and have no clue what I'm doing. What should I do now?". The fact that you went to a Trustee Sale Auction and bid based on what someone at a Customer Service desk told you shows you have no clue what you are doing. You should have taken your money to Vegas as you would have had more fun. The 1st TD is not obligated to allow you to reinstate within the last 5 days. If you would have bothered to even read the most basic book on foreclosure investing you would have known that. Your choices are, if they refuse reinstatement, is to pay the first loan off in FULL before the auction tomorrow or lose your cash. I think based upon what you've typed so far you would be better to lose the cash. Then take Ward's 3-Day course and get educated. If I were the Second Holder, I'd send you a box of chocolates to say thanks. Follow Ups: That's why second lienholders should foreclose Tom 8:28 AM, 12/28/07 (0) Harsh but ... Greg 3:15 PM, 12/27/07 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : You write a lot out of anger, but give little info particularily no dates and no amounts. I presume that you didn't do your own independent title search. : : How much is the property worth, what is the total owed on the first, and what was your bid amount on the 2nd? : : Did you already pay the trustee the full bid amount on the second? : : If not, how much deposit did you pay and when must you pay the full amount? : : Did you buy to flip or live in? : : When is the 1st trustee sale? : : BTW a second foreclosure on the same house in a short period of time probably doesn't matter per se on a person's credit record. Even over a longer period (say up to two years or so in most situations) one would have to distinguish between say a delinquent refinancing and the original foreclosure being botched and subsequently reforeclosed. : Your post should be titled "I screwed up and have no clue what I'm doing. What should I do now?". The fact that you went to a Trustee Sale Auction and bid based on what someone at a Customer Service desk told you shows you have no clue what you are doing. You should have taken your money to Vegas as you would have had more fun. The 1st TD is not obligated to allow you to reinstate within the last 5 days. If you would have bothered to even read the most basic book on foreclosure investing you would have known that. Your choices are, if they refuse reinstatement, is to pay the first loan off in FULL before the auction tomorrow or lose your cash. I think based upon what you've typed so far you would be better to lose the cash. Then take Ward's 3-Day course and get educated. If I were the Second Holder, I'd send you a box of chocolates to say thanks. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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