When Two Innocents Are the Victims of a Third Party’s Fraudulent Mortgage Satisfaction

In a recent unpublished opinion (Deutsche Bank v. Ferguson), the North Carolina Court of Appeals weighed in on the following question:  Who prevails when a scammer fraudulently cancels a deed of trust—the innocent lender whose deed of trust was canceled without its knowledge or the innocent bona fide purchaser who purchased the real estate for value?  

That Upset Bid Process is Such a Hassle . . . How Can I Get Around It?

I had an interesting question about my last blog regarding the upset bid process, which requires a 10-day period following each new bid during which the bid can be raised.  A reader asked if there was a way to get around it.  In other words, can you ever be guaranteed to be the successful purchaser on the day of the foreclosure sale?  In North Carolina, unlike many other jurisdictions, the answer is No.  At least, not legally.  

The Low Down on The Upsets