Why the New Trustee?

 

When the Lender files the Notice of Default to start the foreclosure process often times they will also assign a New Trustee

When that happens you'll receive all sorts of important registered letters announcing the New Trustee.  By law they have make sure you are properly notified.

(you might call it being Spammed)

This is normal. 

So why do they do this do you ask?

 

Maybe the New Trustee is better, faster and / or cheaper than the old one when it comes to the Foreclosure Process.  That's all.

The Good News is that the New Trustee cannot change the terms of the Note.  They only act as instructed.

The Bad News is that you still have a Notice of Default and it's been transferred to a company that might better process that.

 

Active Mike

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This post has been included in California Information
Post is included in group: Consumer Foreclosure Help
Post is included in group: Foreclosure Help and Prevention
Post is included in group: Short Sale Specialists & Pre-Foreclosure Education
Post is included in group: Short Sales Specialists
Post is included in group: Short Sale REALTORS®

4 Comments on Why the New Trustee?

MAY
05
2008
423,646 Points 17 Featured Posts Outside Blog
Short, sweet and to the point. And a good explanation. The last sentence really sums it up.
11:38pm • #1
MAY
06
2008
205,803 Points 1 Featured Post Localism Sponsor Outside Blog Hit Router
Hello Mike, I love your blog whispering.... that is so cool.   And the jumping heads..... love it!  You are very creative.  Thanks for the trustee information, good coverage. 
8:00pm • #2
Outside Blog
Sometimes the old trustee notices that he has a conflict of interest and has to bail out.  Just another thought
8:37pm • #3
MAY
07
2008
179,354 Points Outside Blog
It could be the trustee has moved on to better places who knows.
4:43pm • #5

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Mike Mueller

Walnut Creek, CA

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