Foreclosure in DC ... help !!!
Posted 11-23-2008 at 01:41 PM by kittywright
Hi there
I bought a townhouse in DC - but
[SIZE=3]QUOTE[/SIZE]
[SIZE=3] [/SIZE]
[SIZE=3]Our title search reveals that the U.S. Government brought an action against
the owner of the property against whom your Seller later effectively
foreclosed. The issue is that we cannot find any evidence that the
foreclosure firm dealt with the U.S. Government during the foreclosure
process. We need the documentation that shows that the foreclosure firm
dealt with the issue and that documentation can only come from the
foreclosure firm. Otherwise, if you buy the property now, you could find
tomorrow that the U.S. Government has a superior claim to yours. In short,
the U.S. Government could knock on the door and tell you that you are not
the legal owner and that the Government owns the property.
We need to protect you and must make sure that your Seller has indeed good
title to transfer the property to you. Initially, we were not too
concerned, since we thought the foreclosure firm should be able to easily
provide what we need to clear title. It is not uncommon for releases to be
indexed incorrectly and for searches to show problems with title that are
easily cleared with the proper documentation. As time has gone by with no
answers, we are worried about the likelihood that the issue was never
addressed and your Seller has no marketable title to the property. Again,
we still have no independent confirmation that we are facing the worst
scenario, but things are not looking great. Let's see what we find out
tomorrow.[/SIZE]
[SIZE=3]UNQUOTE[/SIZE]
[SIZE=3] [/SIZE]
[SIZE=3]What should I do next ? find a settlement company and fire the lawyer ??[/SIZE]
I bought a townhouse in DC - but
[SIZE=3]QUOTE[/SIZE]
[SIZE=3] [/SIZE]
[SIZE=3]Our title search reveals that the U.S. Government brought an action against
the owner of the property against whom your Seller later effectively
foreclosed. The issue is that we cannot find any evidence that the
foreclosure firm dealt with the U.S. Government during the foreclosure
process. We need the documentation that shows that the foreclosure firm
dealt with the issue and that documentation can only come from the
foreclosure firm. Otherwise, if you buy the property now, you could find
tomorrow that the U.S. Government has a superior claim to yours. In short,
the U.S. Government could knock on the door and tell you that you are not
the legal owner and that the Government owns the property.
We need to protect you and must make sure that your Seller has indeed good
title to transfer the property to you. Initially, we were not too
concerned, since we thought the foreclosure firm should be able to easily
provide what we need to clear title. It is not uncommon for releases to be
indexed incorrectly and for searches to show problems with title that are
easily cleared with the proper documentation. As time has gone by with no
answers, we are worried about the likelihood that the issue was never
addressed and your Seller has no marketable title to the property. Again,
we still have no independent confirmation that we are facing the worst
scenario, but things are not looking great. Let's see what we find out
tomorrow.[/SIZE]
[SIZE=3]UNQUOTE[/SIZE]
[SIZE=3] [/SIZE]
[SIZE=3]What should I do next ? find a settlement company and fire the lawyer ??[/SIZE]
Total Comments 4
Comments
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Who did the settlement for your purchase? Did you buy Owner's Title Policy? If yes, then you have a claim against the underwriter of said policy. and yes do get a lawyer. If you have not closed on your townhouse maybe is time to look for another.Posted 11-24-2008 at 09:16 AM by luisfe
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Thanks for your reply. I didn't have a settlement company to take care of this, but just a lawyer. Shall I switch to a settlement company now ? I love the house very much and don't want to give up.Posted 11-25-2008 at 04:56 PM by kittywright
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Dear Foreclosure Friend, You are in good company. The National Association of ATty Generals endorses the membership on this site. go to www.stormbiz.net
You need to contact an attorney, for as little as $17 per month you can have help. Call me with any questions. [Moderator cut: no advertising or personal information on the public forums pleasePosted 12-23-2008 at 08:13 PM by sjanaszak
Updated 12-24-2008 at 04:46 AM by 2goldens -
Please take this conversation on the Main forum. This is clearly not a journaling topic.Posted 12-24-2008 at 04:47 AM by 2goldens
