Substitution of Trustee and Foreclosures

Substitution of Trustee and Foreclosures

I have done research in the courthouse land records for years in a variety of different states. I have found that in Deed of Trust states often the lender will file a "Substitution of Trustee" document in the land records agains the property just prior to starting the foreclosure process. In most cases, they are changing from an attorney who does not specialize in foreclosures to one who does. The Trustee is the person who will handle the foreclosure process accoring to the statues for that state. Each state has a prescribed time frame outlined and stated in a statue. It is a great way to avoid taking each foreclosure into the courts and having a judge oversee the process as you will find with Judicial froeclosure states.

It is not 100% accurate, but more times than not I have seen it work. I have found that through my research, I can start to identify the foreclosure attorneys, so if I see that they are listed on the "substitution of Trustee" document that I have a pretty good chance of this being a pending foreclosure property. Happy Hunting!!


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