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Updated about 2 years ago, 10/14/2022

User Stats

46
Posts
37
Votes
Blair Nye
  • New to Real Estate
  • Tacoma, WA
37
Votes |
46
Posts

Wrong end of the foreclosure process! Looking for advice.

Blair Nye
  • New to Real Estate
  • Tacoma, WA
Posted

I'm an out of state investor living in Tacoma, WA. I own a property in Fayetteville, NC that I bought in January of 2021 and have never missed a payment on. When my PM visited the property this morning they found foreclosure documents there, with a scheduled court hearing date of December 5th, 2022. Apparently three owners back the owner did a quit claim deed to an LLC. This was in 2013. That owner is now being pursued by Rocket Mortgage for $58,000. And since Rocket Mortgage doesn't appear to have gotten ahold of him, they are now coming after the property.

When I bought this property, we went through all the standard paperwork, including title insurance and a title search. No red flags came up and we had a smooth closing. I had a local agent representing me and we closed through a local law firm that handles a high volume of real estate transactions. 

The same law firm that handled the closing AND the title search is now looking into this issue for me. I have a lot of questions, but these are my top 3. Any insight is appreciated!

1) Should I speak to another attorney about this?

2) Has anyone ever been on the wrong end of a foreclosure and successfully fought it? If so, what did you ?

3) What would you do if you were in my shoes? 

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