While researching a vacant home this week, I found that the foreclosure process already started... furthermore, I noticed that in county records, HUD had conveyed the warranty deed to a Wilmington Trust financial company. Is this typical? I noticed other HUD properties on the market still had the deed with HUD. Has anyone had success with an inside sale by contacting trust companies or other financial institutions that currently have the deed? (Important to note that Wilmington Trust was not original lender).
Probably just an assignment of mortgage - that can happen anytime up to the foreclosure auction.
Yes, if it's During the foreclosure process, HUD doesn't have the deed yet, it's still in the owner's name, unless perhaps the owner executed a DIL and rhe foreclosure just hasn't been canceled yet, but that's rare.