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Collections Law/deed of trust on property going into forclosure
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Question
I am in 3rd position on a deed of trust for a property that is being foreclosed upon.
1st position is 480K, 2nd=160K, and I am owed 50K
plus 10k interest. The property was appraised at 825K 12 months ago. What do I need to do to protect my 50K investment. I'm scared that I'm going to get "screwed". Thanks for any help you could give me. Brian
Be sure that your deed is properly recorded and that you are included in the foreclosure papers. You also have a couple of other possible things to do that you might consider to protect yourself, but it really depends on the particular circumstances of your cae that you don't state in your question.
Call me if you would like. I will not charge you just to talk on the phone and we could discuss your options in more detail. 214 779-3427 Calling this weekend would be ok too.
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Answers by Expert:
John Hall
Expertise
Law school graduate, Juris Doctorate (J.D.) Degree; Over 25 years of experience throughout the United States in bankruptcy law matters (Chapters 7, 11, and 13 of the United States Bankruptcy Code) primarily representing individual debtors with consumer debt or small businesses; Experience has included all aspects of debtor/creditor relations.
Experience
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