Auction Property Title Search - Help Please!

[Savannah Lewison]

Hello,

I am learning to do my own title search for auctioned properties. Problem is I'm having trouble actually understanding what I'm looking at. I have a real life example here. I see that Pingora Loan LLC assigned a loan in July of 2019 and then there is another loan assignment by Specialized Loan Servicing LLC. I do not see that the Pingora loan was satisfied. Specialized Loan Servicing LLC is the one who is suing the defendant resulting in the home going up for auction. Is this a case of bidding on a second mortgage? Or am I just not reading this correctly.

Any and all help and feedback is appreciated thank you!

Savannah

[Chris Seveney]

Quote from @Savannah Lewison:

Hello,

I am learning to do my own title search for auctioned properties. Problem is I'm having trouble actually understanding what I'm looking at. I have a real life example here. I see that Pingora Loan LLC assigned a loan in July of 2019 and then there is another loan assignment by Specialized Loan Servicing LLC. I do not see that the Pingora loan was satisfied. Specialized Loan Servicing LLC is the one who is suing the defendant resulting in the home going up for auction. Is this a case of bidding on a second mortgage? Or am I just not reading this correctly.

Any and all help and feedback is appreciated thank you!

Savannah

Not an attorney and only reviewing info on the screen. Looks like Barth acquired home from Ortiz and paid $130k with a $126,100 mortgage thru First Choice. It was a MERS loan that was then sold to Pinora who then sold it to SLS. If SLS is foreclosing then this is a first position loan.
BUT: there could be past due taxes, municipal bills owed etc. which is why I prefer to order an actual title report for foreclosed properties.