Deed of Trust

Archive for the ‘Deed of Trust Buyers’ Category

Question: Tax Lien Certificates or Trust Deed Sale?

which one actully produces results?? Does anyone know how to purchase tax lien certificates or Trust deeds in Sacramento Ca? with a small investment of 5k or less what's the biggest risk?

Answer: tax sales (for deliquent property taxes) are advertised in the paper and happen once a year..
at the auction...you can put up the 5 k..on taxes...
so........lets see..now 5k and sacremento.. maybe a condo..
because with the bid/auction you are paying the deliquent taxes and the auction price.... if the owner pays in the year due..you get ap. 8% interest on your money so big investors buy..and auction..and hard and high..because they get better interest than banks..on these..
some people actually do get a purchase at the end of the year..and this is cash....
so chances of getting something for 5k are slim..and if you do..that is easy to repay...

Bridge loan mortgage in Delaware

Question: Is original NOTE secured by Deed of Tust needed to collect?

What happens if the Lender sold the Note to an investor, but the investor "lost" the note, he cannot produce it. Or the original lender don't have the original note? Is the original note needed to collect on the debt. In this case secured by a Deed of Trust. Isn't it like trying to cash a check without actually having the original check in hand????? I mean, how do I know that I am paying the right person if they cannot produce the note. Also, can they foreclose on me if they don't have the original note? Anyone?

Answer: If your lender sold the note to someone else, then there should be a paper trail & likely the assignment would have been filed with your local clerk's office (city hall/property records office) - but depends on the state and what their requirements are.

Even without the absolute first original there's always multiple copies that will indicate your promise to repay, and a lot of times a copy will work just as well. I would call your lender and ask for copies of the documents relating to the sale of the note, to ensure that you make payments to the correct entity (and get it in writing from them).

It's different than a check - the note is evidence of your promise to repay the loan, not the actual payment you're giving them toward the loan. Don't take a chance in not paying - confirm who it is you've got to pay, and pay them.

Los Angeles Trust Deed investors