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Updated over 5 years ago on .

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Eric M.
  • Flipper/Rehabber
  • Louisville, KY
1,299
Votes |
1,762
Posts

Looking for someone experienced in researching title for FC cases

Eric M.
  • Flipper/Rehabber
  • Louisville, KY
Posted

Not sure if this is too much to ask, but my attorney is out of town so I wondered if someone with experience looking at chain of title and lien issues would look at a property for me that is coming to Sheriff Sale. 1427 Apache, Hanover Park, IL... Dupage County. I would appreciate another opinion before the auction in the morning.

https://recorder.dupageco.org/Search.aspx

Just trying to confirm which liens are going to survive FC.

In a nutshell.

2001- 2 judgements filed. I guess they will be first in line after the First Mortgage is paid. I don't know if they have revived the judgments but its a law firm so I would guess they did. 

2005 First Mortgage taken out (that will eventually default). I would have thought that the lender here would have required satisfaction of the previous judgements...but maybe not.

2011 Another judgement lien filed. I think will extinguish.

2013 Agreement with HUD for 25K "forgivable housing assistance loan" there are a bunch of rules in there but in the end, this appears it will be extinguished.

2019 Lis Pendens. The first judgement lienholder doesn't appear as a defendant in the FC. The opening bid at auction appears to be about 13K more than the mortgage holder is owed, so maybe they have a deal with him to help them get paid??

One other weird thing is that there is a 1973 mortgage tied to the property that is still unreleased. This is when these condos were built , I am guessing the original buyer. But I can't figure out why it hasn't been cleaned up. The property has been bought and sold twice since then and multiple mortgages.

Thanks