Ot - Finding Out About Foreclosed House

[sfdavis918]

Hi,

I was wondering if anyone has any idea how to find out what bank owns a house that has been foreclosed on. The house next to my Mom's was just recently foreclosed on. I wanted to find out what the bank is going to do with it. It needs a ton of work but I'm thinking we could get a really good deal because of all the foreclosures due to the ARM's that people were getting around here.

Any help would be great.

Thanks!

 

[pamperedpals]

Could you check with the county assessor's office? Here in WA we are able to look up who owns property by putting in an address with the county assessor. Just a thought.

 

[sfdavis918]

I will go and try that right now!

 

[sfdavis918]

OK, I was able to look it up but the info was last updated Jan 1, 2007. It was just foreclosed on in December. Darn. Maybe I could call the assesor's office.

Any other ideas?

 

[The_Kitchen_Guy]

I would doubt that info changed much in those 11 months. Go with what's there - it the bank of record is not the mortgage holder, they'll let you know quickly enough.

 

[sfdavis918]

It doesn't show the bank, it only shows the actual person.

 

[The_Kitchen_Guy]

If the assessor's office isn't open now, call them first thing in the morning. All the info about that property is public record and is in the county offices. At worst case, you'll have to drive to the assessor's office to manually look it up.

 

[sfdavis918]

Thanks! I will call them first thing tomorrow.

 

[lockhartkitchen]

You will have to go and have them manually look it up. Also, ask a realtor to check on it. We found a house that is a foreclosure. We don't know if it is ours yet. We are waiting on our offer being accepted by the bank.

 

[RebelChef]

My last house was a foreclosure and I found out through a realtor. Depending on the foreclosure laws in your state, you may be able to contact the county clerk to find out. Here the auctions and foreclosures are handled at the county courthouse. They have to post notices so the county clerk's office may still have the info.

 

[jrstephens]

OK, I was able to look it up but the info was last updated Jan 1, 2007. It was just foreclosed on in December. Darn. Maybe I could call the assesor's office.

Any other ideas?

If they will look it up for you , you can call the Probate Office (that is what they are called in AL anyway - the office where deeds are recorded). If they have recorded the deed yet there will be a foreclosure deed to the bank. It ca nm be looked up using the names of the owners of the property b/c they will be on the deed too. At least that is the way it is in AL. If you know when the foreclosure sale was, you could go to the local newspaper's office and check the legal ads b/c they have to run a notice in the paper before the sale and it will have the banks or at least their representatives information on. Some offices will look it up for you over the phone and others will make you come in to do it yourself. It is all a matter of public record if they have recorded the deed already.

As for as the mortgage, unless there is an assignment of record then the last mortgage holder of record would be the one to do the foreclosure. It only has a good chain of title unless there is an assignment but then there are many banks we have found that let recording the assignment fall through the cracks and will have to go back and record it later.

Be careful when buying a foreclosure though, the owners have a one year right of redemption where they can redeem and buy the property back.