Trust still owns the asset????

Replies to This Discussion

Permalink Reply by Russell Murray on November 29, 2011 at 3:02am

I can see that you're in a hard time. Sheriff sales are very alike to normal foreclosure auctions and the only difference is that certain states all over the country needs that a sheriff supervise over the transaction. But the facts are still in place. That is, the sales happen when a property holder failed to pay on a mortgage or has difficulty paying another house-related expense. The mortgage lender will finish the homeowner's privileges to the house on which they’re making payments.

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Permalink Reply by camille on November 29, 2011 at 3:07am

You are funny!

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Permalink Reply by dRp on November 30, 2011 at 8:02am

The insurer, if any does.

 

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Permalink Reply by camille on November 30, 2011 at 8:15am

No insurer on trust but there is one on the credit swap? Thought??

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Permalink Reply by Mimirayo on February 27, 2012 at 10:58pm

or is it the title insurance? pool insurance,"special hazard"? Take your pick of one or all

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Permalink Reply by L on February 21, 2012 at 10:04am

If the home went back to the trust at the sheriff's sale and has not yet been sold to a new buyer then the trust will keep the loan on the books as REO (bank owned).

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Permalink Reply by camille on February 21, 2012 at 10:27am

The home was sold to a third party at the sheriff sale but remained within the investor reports for the trust for a year after the sheriff sale.

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Permalink Reply by Stephanie Ross on February 21, 2012 at 3:24pm

I think that the third party who got the house at the auction owns the house.  The house remained within the investor reports due to a lag in filing paperwork.

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Permalink Reply by camille on February 21, 2012 at 3:31pm

No. The servicer foreclosed in their own name sold the house retained the moneyfrom the sale the trust sent me a 1099 for the entire lose the following year.

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Permalink Reply by Mimirayo on February 27, 2012 at 10:56pm

You need to follow up and see whatthey were doing..did they "liquidate"? What bank was it? I saw mine go throught liquidation after the sale and it did not become  inactive in the trust until months after the resale. It may still be active because it bepends on what contracts are invoolved how long it is until another action is taken

 

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Permalink Reply by saving my home in floridah on February 28, 2012 at 7:46am

The longer any bank keeps the property off their books they do not have to pay some tax.  they dont car no one is living in it and no one is watching them.  seems they can do what they want.  you and me  is another story...

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