Sold to the Highest Bidder
The trustee’s acceptance of the final and highest bid from the successful bidder at a nonjudicial foreclosure sale.
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Tag: trustee’s sale
The Power-of-Sale Provision
The mechanics of a nonjudical foreclosure sale under the power-of-sale provision contained in a trust deed or other security device.
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DRE Hot Seat: Raymond Alfred Grinsell
A licensed real estate broker violated both California Real Estate Law and the federal Sherman Antitrust Act by engaging in a practice of bid rigging.
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May a trustee foreclose on a property without verifying the validity of the underlying mortgage?
Citrus El Dorado, LLC v. Chicago Title Company Facts: A developer takes out a mortgage to fund...
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Is a commercial tenant’s leasehold interest protected when the property is sold in a bankruptcy trustee’s sale?
In the Matter of Spanish Peaks Holdings II, LLC Facts: A commercial landlord and a tenant enter...
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Maximum fees for nonjudicial foreclosure sale increased
The maximum fee a trustee may charge for the facilitation of a nonjudicial foreclosure sale has been increased.
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Mortgage debt discounts and no deficiency obligations for California homeowners
Distinguish between recourse and nonrecourse mortgage debt to determine the remedies available to homeowners and lenders in the event a homeowner defaults.
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Is a deed rendered invalid when a material modification is made prior to recording?
When does an altered deed render subsequent transfers void?
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Postponement of a trustee’s sale on one-to-four unit residential properties
Postponement of trustee’s sale to be provided in writing Civil Code §2924 Amended by A.B....
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REO resales in CA
An estimated 7,000 real estate owned (REO) properties sold in the second quarter (Q2) of 2014....
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NODs recoil for the next bounce, Weekly Statistical Update 04/28/2014
NODs and trustee’s deeds stablize – for now; NODs to foreclosures: a bump on the horizon; REO resale volume awaits the rebound
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NODs down, temporarily, Weekly Statistical Update 01/27/2014
01-27-2014 Weekly Statistical Update; NODs down, temporarily; NODs to foreclosures: looking at the bottom; NODs and trustee’s deeds meander towards the floor; REO resale volume down – for now
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Does HAMP obligate a lender to permanently modify a loan if the borrower complies with the trial period plan?
Facts: A distressed borrower applied for a loan modification under the Home Affordable...
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Is a lender required to offer a permanent loan modification to a HAMP borrower who successfully completes a trial period plan?
Facts: A distressed borrower applied for a loan modification under the Home Affordable Modification Program (HAMP). The lender prepared a trial period plan (TPP) stating the borrower will receive a permanent modification if they make trial modification payments and submit qualifying documents. The borrower successfully made all TPP payments and submitted the required documents but the lender denied the borrower a permanent loan modification and the home was later sold at a trustee’s sale.
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Can the Mortgage Electronic Registration System (MERS) designate a trustee if the trust deed does not name a trustee?
A homeowner obtained a loan secured by a trust deed naming Mortgage Electronic Registration System (MERS) as the beneficiary. The trust deed did not name a trustee.
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Did a lender improperly foreclose after issuing a written rejection of a loan modification and verbally informing the owner the modification was pending?
A homeowner defaulted on their loan and applied for a loan modification. The lender sent the homeowner a written denial of their loan modification application.
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Does a low opening bid set in error allow a lender to void a trustee’s sale?
When can a procedural misstep void a nonjudicial foreclosure sale?
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Foreclosures fall
Foreclosure sales dropped significantly in the first quarter of 2013 (Q1 2013). The number of real...
Read Morefirst tuesday case in point: Know thine enemy – an analysis of MERS
The highly contentious Mortgage Electronic Registration System (MERS) has made numerous courtroom appearances since its inception, the question for homeowners being: does MERS have the authority to initiate foreclosure?
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Defaults and foreclosures drop
Foreclosures dropped significantly in the second quarter of 2012 — a good sign for the housing...
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