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I am trust deed holder for my son house. His house under the…

Customer Question
I am trust deed...

I am trust deed holder for my son house. His house under the pre foreclosure now. If 1st mortgage foreclosure house, if house sale more than the 1st mortgage loan. Do I get any money after pay 1st mortgage?

Lawyer's Assistant: Since laws vary from place to place, what state is this in? And has any paperwork been filed?

In California. I do not do anything yet. I only received notice from company

Lawyer's Assistant: Has any paperwork been filed?

Not yet

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Just want to know what's my right

Submitted: 11 months ago.Category: Real Estate Law
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Answered in 1 minute by:
8/12/2017
Real Estate Lawyer: Ray, Lawyer replied 11 months ago
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,189
Experience: Texas Attorney for 30 years dealing in real estate
Verified

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.

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Real Estate Lawyer: Ray, Lawyer replied 11 months ago

Yes you would be paid any surplus funds as second lien holder too.You are next in line to be paid if there is any funds left over and they would be disbursed to you here.If there is anything leftover you will be paid those funds once first lender has been satisfied in California.

I appreciate the chance to help you tonight and wish you the best.

If you can positive rate 5 stars it is much appreciated.

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Customer reply replied 11 months ago
Thank you very much.
Real Estate Lawyer: Ray, Lawyer replied 11 months ago

Have a great evening and thanks

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Customer reply replied 11 months ago
Do I need to file any pepper work ?
Real Estate Lawyer: Ray, Lawyer replied 11 months ago

I would write the first lien holder and advise them you have a second and give them contact information, copy of note, deed of trust.

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Customer reply replied 11 months ago
According my son devoice lawyer said. My grant deed maybe will be void by court. First I got the promissory note from my son before they devoice than he sign the deed after devoice file. If the grant deed void, do I have anyway to security my money ?
Real Estate Lawyer: Ray, Lawyer replied 11 months ago

Only if there are surplus funds, after first is paid including late fees, legal fees, court costs,, etc.

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Real Estate Lawyer: Ray, Lawyer replied 11 months ago

Thanks again and the best here, thanks for rating 5 stars.

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