purchase with exciting Mortgage

[Hany Morsy]

I won the bid on a house at a PA  upset tax sale auction 4 month ago. My wife and I spent 3 days prior narrowing down the list of properties to parcels that were worth bidding on.

Well, I made a mistake and I'm owning that mistake, literally. The property that I bought has a mortgage on it (according to the current owner) that makes the deal not worth it. We did not see any mortgage for this property when we were researching the deeds. I am going to re-research the deeds, I feel the mistake has been possibly made by checking the owner's name spelled one way and not both ways. (Stephen - Steve) The bank with the mortgage is Ocwen, which have bought foreclosures from in the past and have heard they aren't the most up and up bank. Another possibility is that the mortgage hasn't been recorded.

If this mortgage is real and active, I don't want the property. I know the motto is: buyer beware. I get that.

I also now, that if you get yourself into trouble, there is always a way to get yourself OUT of trouble.

So Please who have previous experience with this major problem can guide me