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ms curio · Jul 31, 2012, 10:47 PM

Lender foreclosed but lost half of house to property tax lien investor. They did not redeem during redemption. The house sits on split parcels but the predatory lender trustee did not know that. Will they be knocked of entire property now .he has deed to three quarters of house building.

joypulv · Aug 1, 2012, 02:08 AM

Your question is low on facts. Please explain in more detail.
It sounds like the lender and the lien buyer may have to duke it out over technicalities, but I don't see how you are going to end up with anything. Foreclosed is foreclosed - how did the house get split as well as the land? Is it a duplex or something? You didn't owe on that part too? If you did, and there is a mistake on the deed, don't count on that to keep you owning part of it.

ms curio · Aug 1, 2012, 10:20 AM

Originally Posted by joypulv

Your question is low on facts. Please explain in more detail.
It sounds like the lender and the lien buyer may have to duke it out over technicalities, but I don't see how you are going to end up with anything. Foreclosed is foreclosed - how did the house get split as well as the land? Is it a duplex or something? You didn't owe on that part too? If you did, and there is a mistake on the deed, don't count on that to keep you owning part of it.

Okay but tax buyer already has deed to three quarters of house. Bank never redeemed the tax lien. I am going yo buy back the deed on three year contract. Now the bank is trying yo vacate his judgement. Would not his recorded deed remove the bank interests in the property.

ms curio · Aug 1, 2012, 10:36 AM

If the tax lien investor was able to record his deed on three quarters of the house because it sits on split parcels and the lender failed to redeem does lender lose its interest in the other parcel which is one fourth of house and attached garage?

joypulv · Aug 1, 2012, 10:57 AM

This is way too unusual for me, but the simple fact that you are in default on both mortgage and taxes suggests that the lender, at the very least, still can foreclose on whatever parcel and structure you borrowed money to own. I don't know what you mean by the lender failed to redeem - I wasn't aware that lenders had to redeem anything when a tax lien sale was recorded. Correct me if I'm wrong.
This isn't a murder trial and the courts don't throw out cases based on technicalities very often. It still sounds like the two parties will duke it out.

ms curio · Aug 1, 2012, 11:06 AM

Yes way complicated sir.you see taxes were impounded in mortgage payment. They should have been paid by lender.. .

joypulv · Aug 1, 2012, 12:27 PM

The lender collected taxes from you and failed to pay the town? How many months?
This is the same lender who is now foreclosing?
Why haven't you sued them?
But you have these 2 parcels... get a lawyer. Still not enough information and I have a feeling we could be here a week getting it all.

AK lawyer · Aug 1, 2012, 12:40 PM

Originally Posted by joypulv

... get a lawyer. Still not enough information and I have a feeling we could be here a week getting it all.

I have to agree. I'm still wondering what a "predatory lender trustee" is.

An in-person meeting with a lawyer would have the advantage that the lawyer could actually look at all pertinent documents and see what the actual situation is.

ms curio · Aug 1, 2012, 02:01 PM

Yes gentleman attorneys have reviewed docs. Everyone is puzzled. By the way I am still sitting in my kitchen watching it unfold and truly looking for some relief from the stress I have been going through since 2005. I have fought this as a wrongful foreclosure all along. This final action on taxes not being paid proves the lack of standing all along. I am one of those victims when this real estate securities scam came to a head in 2008. I have the entire story on court docs. I am still in my house. I was never even served foreclosure paperwork in 2005.

ms curio · Aug 1, 2012, 02:20 PM

A predatory lender buys up refinanced so called home improvement loans that were abundant in 2005-2006. If were deemed to fail categorized by being single female and self employed the sold your house off over seas to securities asset backed.your payment kept going up up. No control. No modification back in the day. Started at nine hundred a month increased to 2000.00. Squeeze play. Note now worth more than your house so we ate foreclosing. Predatory loan auction off for accelerated note by trustee. Someone failed to record. I knew it would come out in the wash. Sheriff showed to I thought evict me no he tells me I must redeem my house it was sold for nonpayment of property taxes. Tax Guy served trusted and me. Trustee never shows to redeem for over a year on two parcels. He gets deed and now owns three quarters of building. The rest is to be determined. Even if a would if worked it out with bank but you could not back in 2005 distilled would have lost property to tax liens but my taxes were impounded. They did not even know and they borrowed on a property they actually have no idea what it included. So here I am going to sign I real estate contract with tax Guy tomorrow and buy back three quarters of my house a.d then with for the bank to come in with a very large saw and cut the house in half because their paperwork and desire to board up one in ten homes messed us all up. All they had to do was answer the phone. I would have told them but the calls were out sources to India with wait times of 172 minutes and they did not even answer after 175 minutes past. I havethose phone records also.

ScottGem · Aug 1, 2012, 03:20 PM

First, I wouldn't call them predatory lenders. Many of them have gone belly up. But the issue of selling mortgage backed securities is at the heart of the foreclosure mess.

However, if your payment has been going up it means you got an adjustable rate. That's the problem, not the lender. Either that or your taxes and insurance also went through the roof.

When you brought the house, did you have a title search? Did you have title insurance? If so they should be dealing with the title issues.

ms curio · Aug 1, 2012, 03:33 PM

No you see I bought it 1998. All was well with the original ban until I did a refinance. In 2003. I believe that is where the problem occurred. Also a bank called new century had it but they went bankrupt and it sentiment Ocwen LLC and then new centuries trustee did foreclosure then county pulled property noe tax lien buyer has deed. They have now filed suit to vacate his judgment and tax deed but I already signed contract with him and paid him one third down. The other tax lien buyer because they lost two propertied notified the bank and they bought his lien out on my side yard. They are two years past redemption now. And the lien buyer to house already recorded his deed. He already allowed me to purchase it back and gave me a three year land contract.

ms curio · Aug 2, 2012, 02:03 PM

So now I suppose my question is if I took out this refinance in 2003 and for all reasons of my loan being worth more than my house and the whole foreclosure process going through and we get to the point of the bank not paying the taxes on two parcels and three quarters of the house no owned by a tax deed certificate which the bank failed to redeem in time and now I just signed a land contract to buy it back what happens to the bank which will be in one quarter of my home and my two side yards with me. Keeping in mind that my taxes on these divided parcels were supposed to be impounded bug they were bought up in 2006?

LisaB4657 · Aug 2, 2012, 08:50 PM

There is no way that you will get a correct or comprehensive answer to your question online. You have to sit down with an attorney or title company representative (preferably both) to work this out. You have a mess on your hands.

I'll give you an example. In most jurisdictions that I know of, common law provides that when one person owns separate parcels of property that are next to each other and have one structure, the parcels are automatically joined into one. If that's the case in your area then presumably the tax agency didn't have the authority to issue separate tax deeds, the lender would still have a security interest in all of the property and everyone is entitled to sue each other.

Find a real estate attorney in your area who offers free consultations and see what they say.

ms curio · Aug 3, 2012, 12:20 AM

Yes that makes sense. But the lender should have known what they loaned on in the refinance and they should have paid the taxes that were impounded. So the contract I signed.

To purchase and the money I have paid will not secure me in the property... and the tax deed will be vacated.. what a mess.