HELOC in 1st Position and I Cannot verify its status

[Denice S.]

Hi BP Community, thanks for reading… I’m looking for some direction

I'm pursuing a property via mortgage foreclosure auction.During my lien search at the county, I like everything I see except for this:There are 2 mortgages on the property, a HELOC and a regular mortgage, separate loan numbers – both originated by GMAC, both later reassigned.

The HELOC is for 50k and is dated one full day earlier than the traditional mortgage and it's also recorded one full day earlier.The traditional mortgage is for 100k and is dated one full day after the HELOC and recorded one full day after the HELOC. The foreclosure is by the bank holding the traditional mortgage of 100k.

Both loans go hand in hand with an effective year built of 2000 (new build replacing an old home). Both loans were assigned in 2009 to Residential Funding (an apparent subsidiary of GMAC).The HELOC assignment ends with Residential Funding LLC, but the conventional mortgage goes through 2 other assignments. I don't see any lien release for the HELOC, but there was a Lis Pendens filed on it in 2009 (Just 3 days after it being assigned to Residential Funding ).That Lis Pendens was cancelled within two months of its filing.

I have a regular closing attorney and ran this by him and as suspected, he cannot say one way or another how this HELOC would impact the cost, given the earlier date.Maybe there is no balance? Maybe it's maxed out and will come back to visit someday. But the auction would be over by the time he could obtain and review the search.

HELOC 50k

Date of HELOC – 1/4/00

Date HELOC Recorded – 1/5/00

Conventional Mortgage 100k----Foreclosing

Date of Mortgage – 1/5/00

Date Mortgage Recorded 1/6/00

I've called numbers for Residential Funding –they answer OCWEN or Wells Fargo, the HELOC loan number isn't valid anywhere.

Any ideas on what I could look into by Monday morning?