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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: DEJA VU! Need some ADVICE! Posted by Bobby Taylor on February 08, 2011 at 2:52 PM In Reply to: DEJA VU! Need some ADVICE! posted by Wendy on March 25, 2002 at 7:15 PM : : Ward, : : In the event a senior lienholder fails to give notice of a foreclosure to a junior lienholder (i.e., the junior lienholder is not made a defendant in the foreclosure lawsuit), and the property is subsequently sold at auciton, what are the junior lienholder's remedies, and, most importantly, what are the implications to the third-party buyer? : : Thanks : Dear Ward and Rob, : This same thing almost happened to me. I wanted to buy a house from the owner- she said her house was in forclosure and : thought it was too late and told me to contact the lawyer from her morgage company. To make a long story short: : I contacted a lawyer to represent me (this is before I went to this site or even knew what a forclosure was. : He told me the auction that the senior lien- holder morgage company was about to do was not valid because the lawyer : had made a "boo-boo" and "forgot" to include a junior $29000 morgage lien. My lawyer, seeing how utterly GREEN I was in this business : tried to get me to buy the senior note so he could do the forclosure for me. When I asked him what the advantage was over waiting for the auction, he had no reply. : He told me if I did not buy the note, the senior morgage co would have to file for an amended petition just as we would have, and give the 2nd morg. 60 days : right to redeem and the process would take about 4-5 mos. I declined and have been waiting for the auction about 3 weeks. Then, last night, a light bulb went off- TAX DEED. There are about : 2 yrs. back taxes on the senior morgage- may be the lawyer is just waiting for the tax deed auction so he : does not have to do the forclosure again??? There is something stinky here- the lawyer for the morg co. and mine know each other. Am I missing something? Any one have any advice? I went to law many years ago, a top two law school at that and I discovered not too far into the education that most lawyers are crooks and the license to practice is a license to steel and lie and that the court system is even more corrupt. So I carry a big stick, a loud speaker so I can talk over the liars and a large bottle of Vaseline. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : Ward, : : : In the event a senior lienholder fails to give notice of a foreclosure to a junior lienholder (i.e., the junior lienholder is not made a defendant in the foreclosure lawsuit), and the property is subsequently sold at auciton, what are the junior lienholder's remedies, and, most importantly, what are the implications to the third-party buyer? : : : Thanks : : Dear Ward and Rob, : : This same thing almost happened to me. I wanted to buy a house from the owner- she said her house was in forclosure and : : thought it was too late and told me to contact the lawyer from her morgage company. To make a long story short: : : I contacted a lawyer to represent me (this is before I went to this site or even knew what a forclosure was. : : He told me the auction that the senior lien- holder morgage company was about to do was not valid because the lawyer : : had made a "boo-boo" and "forgot" to include a junior $29000 morgage lien. My lawyer, seeing how utterly GREEN I was in this business : : tried to get me to buy the senior note so he could do the forclosure for me. When I asked him what the advantage was over waiting for the auction, he had no reply. : : He told me if I did not buy the note, the senior morgage co would have to file for an amended petition just as we would have, and give the 2nd morg. 60 days : : right to redeem and the process would take about 4-5 mos. I declined and have been waiting for the auction about 3 weeks. Then, last night, a light bulb went off- TAX DEED. There are about : : 2 yrs. back taxes on the senior morgage- may be the lawyer is just waiting for the tax deed auction so he : : does not have to do the forclosure again??? There is something stinky here- the lawyer for the morg co. and mine know each other. Am I missing something? Any one have any advice? : I went to law many years ago, a top two law school at that and I discovered not too far into the education that most lawyers are crooks and the license to practice is a license to steel and lie and that the court system is even more corrupt. So I carry a big stick, a loud speaker so I can talk over the liars and a large bottle of Vaseline. [ 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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