Legal Question in Real Estate Law in California

Foreclosed Home

My daughter was out of work so I refinanced the house in my name. The house was going into foreclosure so I took out a lien for $25k. in July 06, I did not realize there was a ballon in oct. they foreclosed 3/07. my first has not been informed as of today.They also only sent a notice to the property and not me is any of that legal? I also noticed on line they said it sold for $295K. in 10/06.


Asked on 6/14/07, 4:12 pm

1 Answer from Attorneys
George Shers Law Offices of Georges H. Shers

Re: Foreclosed Home

The foreclosure by the second deed of trust or mortgage holder only wipes out loans junior to that one [s a third deed of trust]. All interested parties are supposed to be notified. Also, it sounds as though you may have been on title so you should not have applied for a loan and no one should have given you one. It does not make sense that a second deed was sold for that much money You need to recheck all the facts to see what is going on.

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Answered on 6/15/07, 4:27 am


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