on your foreclosure profile report, it reads the pro...

Submitted by belia from CA - 08/07/2009 - 4:48pm

on your foreclosure profile report, it reads the property is bank owned. when i contacted they said they are only the trustee, holder/assignee of the note. i want to understand why you report shows the property was bought by them?

You are not watching this post, click to start watching

Comments

Submitted by Sean - 08/13/2009 - 8:45pm

They were the lender referenced on the notice of default or notice of trustee sale.
 
Determining who the real lender is these days is pretty tough with all the securitization, etc. Usually our records will be updated to show the new owner after the trustee's deed is recorded - though you may still run into the same problem as the servicer may take the property back in their name on behalf of the investor (especially if the investor is a mortgage backed security).

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

Before You Post

All comments should be relevant to the topic of the post and are subject to the terms found in our User Agreement.

Asking a Question

If you'd like to ask a new question, please start a new topic.

Please no SPAM.

We nofollow all links and promptly remove unsolicited advertisements - spamming here is a complete waste of your time, so don't bother. Vendors who actually answer questions and provide value to our forums may include links to their company or service as part of their signature.