Who gets paid when the #7 junior forces foreclosure in california. ?
I purchased forclsed property in CA. thinking it was free and marketable. After sale I received my title report and it showed a first still outstanding. Title company was not able to contact the first holder as they keep getting a recording and then line would go dead. They never made contact. I received a notice of attempt to collect debt showing a differant company as the first lein holder. Shouldn’t the title company have held out the amount to pay off the first after the sell? I am not looking a forclosure I think. I have tried for a long time to make contact with someone that can talk to me about this but kno one can find the property or the lien number in their files. This has gone on for several months now.
Honey, you made your FIRST, and biggest investment mistake.
YOU NEVER purchase property without doing a title search and getting title insurance….never, ever, ever.
I have been in this business over 20 years, I know how to do a title search, and I wouldn’t do it without title insurance, which requires a professional title opinion by a licensed attorney.
As long as they have the lien, they can force foreclosure.
You should have checked that before you bought. Liens do not prevent a property transfer. If you cannot reach the person to pay the liens, then the title cannot be cleared.
You are SOL on this one dude.
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