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Maverick
Maverick, Lawyer
Category: Real Estate Law
Satisfied Customers: 3961
Experience:  Over 13 years experience in civil law.
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If a Notice of Substitution of Trustee for a foreclosure is

Customer Question

If a Notice of Substitution of Trustee for a foreclosure is recorded and the document has the incorrect- beneficiary/ being they put the second lien holder instead of the first and the bottom is signed by the first. ex. XXXXX XXXXX a single man, as trustor in which WELLS FARGO is named as bene and fatco as trustee recorded blabla. Bottom document states
Beneficary: COUNTRYWIDE
BY: _________________
       Beneficiarys Agent
Countrywide is the first and they initiated the foreclosure - NOT WELLS FARGO - what are the legal ramifications- is the foreclosure legal. The 2nd Wells never appointed the new trustee to begin foreclosure.
Submitted: 5 years ago.
Category: Real Estate Law
Expert:  Maverick replied 5 years ago.

There can be an unlimited number of "substitution of trustee" made in a foreclosure procedure. Since the lender could amend the documents and re-record, it does not appear that this error will stop the foreclose. Further, it would appear that one could show under the theory of part performance that it was Countrywide that substituted the trustee and intiated foreclosure in the real world, despite what the paperwork might say.

 

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