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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] PACER. judgments and bankruptcy... Posted by Ward-CA- on March 26, 2004 at 7:43 AM In Reply to: Trustee Sale and Bankruptcy posted by steve on March 26, 2004 at 4:03 AM : I am following a property to the TS. The owner has a foreclosing 1st and several recent judgements. The Trustee sale phone line (a couple weeks ago) stated that the sale has been postponed due to bankruptcy. However, I couldn't find a filing from a search in PACER. : How long is the typical lag (from filing to appearing on the site) in PACER? : Does the owner acutally have to have filed a bankruptcy (paper in hand) in order for the Trustee to postpone the sale or does the owner just need to say she is in bankruptcy? If it's the latter, it seems one can bascially say anything for a postponement.? : What risks are there if I buy this property at a Trustee sale? Do any of the judgements have a precedence since the owner is in bankruptcy? : Thank you for your valuable information. =================== Steve, #1. We find that PACER has hardly any lag time from when something is filed in the petitioner's docket in the Court to when it's available for viewing via PACER (maybe 10 minutes). #2. The fact you didn't find anything regarding the owner's bankruptcy via PACER may have to do with spelling their name or the fact that a wife might have filed instead of the husband or vice versa, etc. #3. Nobody pays any attention to what an owner-in-default says they're going to do. This is the case where "action speaks louder than words". #4. A foreclosing senior lien has precedence over the actions of any junior lien done at any time. A bankruptcy filing doesn't impinge on the rights of a senior lienor in any way other than requiring them to get the court's permission to initiate or continue their foreclosure rights. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I am following a property to the TS. The owner has a foreclosing 1st and several recent judgements. The Trustee sale phone line (a couple weeks ago) stated that the sale has been postponed due to bankruptcy. However, I couldn't find a filing from a search in PACER. : : How long is the typical lag (from filing to appearing on the site) in PACER? : : Does the owner acutally have to have filed a bankruptcy (paper in hand) in order for the Trustee to postpone the sale or does the owner just need to say she is in bankruptcy? If it's the latter, it seems one can bascially say anything for a postponement.? : : What risks are there if I buy this property at a Trustee sale? Do any of the judgements have a precedence since the owner is in bankruptcy? : : Thank you for your valuable information. : =================== : Steve, : #1. We find that PACER has hardly any lag time from when something is filed in the petitioner's docket in the Court to when it's available for viewing via PACER (maybe 10 minutes). : #2. The fact you didn't find anything regarding the owner's bankruptcy via PACER may have to do with spelling their name or the fact that a wife might have filed instead of the husband or vice versa, etc. : #3. Nobody pays any attention to what an owner-in-default says they're going to do. This is the case where "action speaks louder than words". : #4. A foreclosing senior lien has precedence over the actions of any junior lien done at any time. A bankruptcy filing doesn't impinge on the rights of a senior lienor in any way other than requiring them to get the court's permission to initiate or continue their foreclosure rights. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ 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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