Trustee Deed after a LP

[florida5121]

Trustee Deed after a Lis Pendis

Florida

Hope this is in the correct area. What does it mean when a homeowner who had forclosure process started a year ago and a trustee deed was done 2 months after the lis pendis by a individual not the lender. Is this person(trustee) have full rights to the property and is now the owner and basically the current owner gave up the property to him?
It is set to go to sale in a few weeks and I was interested in the sale, but do not know what the trustee deed now does. I have been told it is probably an investment "shark" who saw the inital lis pendis and saw a way to get the property and later negotiate with the lender later on. Any thoughts?

 

[HomeGuru]

Florida

Hope this is in the correct area. What does it mean when a homeowner who had forclosure process started a year ago and a trustee deed was done 2 months after the lis pendis by a individual not the lender. Is this person(trustee) have full rights to the property and is now the owner and basically the current owner gave up the property to him?
It is set to go to sale in a few weeks and I was interested in the sale, but do not know what the trustee deed now does. I have been told it is probably an investment "shark" who saw the inital lis pendis and saw a way to get the property and later negotiate with the lender later on. Any thoughts?

**A: confusing......Read you post again and reword it so things make sense.

 

[florida5121]

**A: confusing......Read you post again and reword it so things make sense.

A: OK, HomeGuru. Thought it made sense, but I trim it down for you. Why would someone (owner) do a Warranty Deed in Trust during foreclosure proceedings?

 

[seniorjudge]

A: OK, HomeGuru. Thought it made sense, but I trim it down for you. Why would someone (owner) do a Warranty Deed in Trust during foreclosure proceedings?

To commit fraud.

 

[HomeGuru]

A: OK, HomeGuru. Thought it made sense, but I trim it down for you. Why would someone (owner) do a Warranty Deed in Trust during foreclosure proceedings?

**A: ah, let's see, because they sold the property for all cash?

 

[florida5121]

**A: ah, let's see, because they sold the property for all cash?

Then why is the bank/lender foreclosing on the property in 2 weeks if it was sold for all cash? The warranty deed in trust was done in 2003 just after the bank filed the lis pendis and notice of foreclosure. I f it was sold for all cash would'nt the deed reflect the doc stamps?
Back to my original question what is a Warranty Deed in Trust?

 

[HomeGuru]

Then why is the bank/lender foreclosing on the property in 2 weeks if it was sold for all cash? The warranty deed in trust was done in 2003 just after the bank filed the lis pendis and notice of foreclosure. I f it was sold for all cash would'nt the deed reflect the doc stamps?
Back to my original question what is a Warranty Deed in Trust?

**A: yes, now you are getting my point. Read the last sentence in your post. You never asked the question "what is a Waranty Deed of Trust?"
You have a bad habit of twisting things around. I do not have time to waste while you beat around the bush.

 

[seniorjudge]

...Back to my original question what is a Warranty Deed in Trust?...

Ain't no such critter.

 

[HomeGuru]

Ain't no such critter.

**A: did the writer ask such a question in his/her initial post?

 

[seniorjudge]

"...**A: did the writer ask such a question in his/her initial post?..."
No.

 

[HomeGuru]

Thank you kindly.