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Updated about 9 years ago on . Most recent reply

User Stats

13
Posts
1
Votes
Nick Stille
  • Omaha, NE
1
Votes |
13
Posts

DOJ ROR (Department of Justice Right of Redemption) questio

Nick Stille
  • Omaha, NE
Posted

So Im looking at a forclosure property, but the listing says DOJ ROR on it. Because of this, the listing was cash only as the financing from a previous offer had fallen through. Appearly banks do not want to mortage on a property with the DOJ ROR tag, and my agent called around to titpe companies ans they domt want to issie titoe insurance on it either. Maybe a laywer could help my figure some stuff out.

(FYI: The property is 1121 S 113 Plaza, 68144)

      A. Looking up ROR laws, Nebraska has no ROR after the foreclosure date for nonjudicial foreclosures, which the listing says it is. Yet the listing has this DOJ ROR on it. How can that be?

B: Why are banks and title companies so afriad of this? If house was redeemed, wouldnt the new homer buyer (me and a bank, for example) have to be paid back what they paid for the house, plus purchasing fees, rent, etc?  Seems like we would get our money back out of it.

If anyone could help me out here I'd much appreciate it. Ive been digging for answers but am having trouble understanding why noone wants to touch it. 

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