My friend is facing possible foreclosure on his home. The bank filed, but has not yet served to him and/or his wife. He checked on c-cap and saw listed as defendants, along with him and his wife, two other financial entities, prior to him buying the property. These others are from Feb '08, my friend bought the property May 09 with FHA. He never heard of these others and had no liens on his house for anything. The odd thing(s), are when he called the bank, the two names they had both matched his wife's first name. One had the first and last name, but a different middle initial. When my friend asked the bank, they said he would have to call their atty to figure it out. Meanwhile they said they "paused" the foreclosure because he filed for a loan modification. We were going to work something out with him if possible, but this new information has all of us puzzled? Anyone with this experience?
@Al Wilson-I wonder if he should find a real estate attorney, specifically. He's got a lot going on besides the house stuff, and obviously low on funds, he's a good friend and I'll pass on your good wishes. He, his wife and I are "googling" our fingers off!
Tou need a simple title search. Apparently the bank's title search that they performed as SOP prior to filing the foreclosure came up with these other liens. They may, or may not, be relevant as it could be someone with the same name, but not related to this case. It doesn't hurt the bank to name them in the ofreclosure"just in case". If it's not them, and not related to this poperty, it doesn't matter.
@Wayne Brooks-good to know, thanks! I'll share this with him tomorrow at work. I told him about Bigger Pockets and the generous input the members give to each other.
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