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Updated over 6 years ago on . Most recent reply

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Krystal Frangos
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Limbo Property? Recorded deed entity is nonexistent

Krystal Frangos
Posted

Hi everyone!
Long time trolling, first time posting. 
Here is the backstory.
We are interested in this property that is essentially owned by a bank that went bankrupt in 2008... but the property was relinquished in 2012 to that bank 🤔 but the bank didn’t sign off on the deed only the owner at the time.... who is being investigated for real estate fraud 🤔🤔

All the assets of First NLC (bank that went under) were vested to their bankruptcy trustee who I was able to locate. She said she has absolutely nothing to do with this property. That, several years ago, she got a court order to shred all the files pertaining to this bank because it was an absolute nightmare and her attorneys could not sort out the files. So, that was a dead end. 

I contacted the listed attorney on the last recorded deed- he's dead so they can't help me.

ANYWAYS-OCWEN has been redeeming the tax liens since 2011 🤔🤔🤔 They have not foreclosed nor are they listed on any deeds as owning the property. Does that mean that they have rights to this home? I do not understand if they do, why they have not foreclosed. 

Some LLC in FL bought a tax lien certificate in 2017- but hasn't purchased 2018.

This house maybe a tear down- but it’s in a hot area. It’s been vacant for years..its literally falling apart. 

IS THERE NO WAY to legally assume the title since it belongs to a bank that doesn’t exist? It seems as if Ocwen is just redeeming the tax lien certificates year after year to get this investors off the line of secession. But why!  Im SO CONFUSED as to what right Ocwen has to this property. 

WHAT CAN WE DO?

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Tom Gimer
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Tom Gimer
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@Krystal Frangos Start here and see where it leads you:

https://www.insidearm.com/news/00004457-fbr-completes-acquisition-of-first-nlc-fi/

  • Tom Gimer
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Gimer Law
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