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Re: going to attend a trustee sale

Posted by Kiwi 1st Time Buyer on March 30, 2007 at 09:52:25:

In Reply to: Re: going to attend a trustee sale posted by steele in minnesota on March 27, 2007 at 06:54:16:

I'm in Orange County CA and have not attended my first Trustee Sale yet. QUESTION: Prior to the TS date, should I contact the Trustee (knowing the 1st mortage amount & second/equity loan amounts) to see if they are willing to sell the property for the original loan, and forgive the orig. borrower/owner for the 2nd? I have heard of cases like this where the Trustee knows the house is in horrible shape, not likely to get the entire judgement amount and may simply let the orig. owner walk if they pay taxes only on the 2nd or equity loan.
*Has anyone heard of this type of situation happening in CA? If so, can you give me any insight or first hand experience?

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