"subject To" For "notice Of Default" Property
I've been enjoying reading the posts. I have a question that I haven't seen yet, so I guess it is time to jump in.
I don't know exactly when its too late to get a deed "subject to" when the owners are heading towards foreclosure. From what I can see by looking at county records, in OR, delinquent owners get 3 different notices:
#1. "request for notice of default"
#2."notice of default of trust deed"
#3. "notice of default and election to sell".
Does anyone know, if that is correct, and if so, at what point does the deed get transfered to the "successor trustee" who is dealing with the forclosure? My guess is, that after that happens you can't do a "subject to" deal with the owners. It would have to be worked it out with the new trustee who is usually a lawyer and won't talk to you unless you have a signed release from the owners. That is what it seems like anyway, in my limited experience. What has been other's experiences with this?
Thanks (in advance) for the feedback.
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