Colorado if it matters. There’s a house I want to make an offer on because it was foreclosed 2 years ago and has been abandoned ever since. Oh and the taxes have not been paid in almost 3 years which means the owner can lose it on a tax lien in a couple of months.
The owner of record i.e. the person on all county records and the public trustee deed says he foreclosed on a second mortgage and the bank owns the first mortgage of $600K but has not dealt with him on it in the two years since he foreclosed. I called the bank and after being passed around, I got the bank-owned department that says that they don’t have the house, but then again if it wasn’t foreclosed on (and I know they didn’t foreclose because there’s no public trustee record of it) then her department wouldn’t have the info. The mortgage department would but I probably wouldn’t get any info out of them.
Does any of this make any sense? Is it possible the first mortgage doesn’t exist or got lost or invalidated be the 2nd mortgage foreclosure or something?
If I buy the house from the owner of record and the bank decides to foreclose, can they take the house or is it too bad so sad go find the guy that defaulted.
Where would I find a copy of the mortgage liens on the house. The county records have the tax and a municipal lien but no mortgage liens.
Is there a question I should be asking but am not?