ORDER OF NOTICE?

[Aaron Araujo]

Hello BiggerPockets Community!

I have a question regarding an add in my local news paper classifieds. I've had my eye on a property in my neighborhood that has been vacant for a few years now. I visited the city assessor's office a few months back to find out who the owner was, turns out it was still listed under the previous owners name (a neighbor that personally knew). The tax office told me that the property taxes were up to date as well, which didn't add up because I thought the property had been foreclosed on years ago. 

I eventually ran into some of the landscapers that periodically come and maintain the lawn. I asked them if they knew who controlled the property and they gave me the name of a property management company that hired them to maintain the yard. They also told me that the property itself was owned by some bank in Ohio, although I am in Massachusetts. 

I tried to research both the bank and the property management company but with no luck. This brings me to today, when I took a look at the local classifieds and saw the following post regarding the same property!

I'm going to paraphrase here:

"COMMONWEALTH OF MASSACHUSETTS LAND COURT DEPARTMENT OF THE TRIAL COURT

ORDER OF NOTICE TO: (Previous owner's name), and to all persons entitled to the benefit of the Servicemembers Civil Relief Act; Wells Fargo Bank...Asset-Backed Pass-Through Certificates...claiming to have interest in a mortgage covering real property at (address), given by: (name) to (mortgage company) dated May 2005...and now held by Plaintiff by assignment, has/have filed with this court a complaint for determination of defendants service members status...If you object to the foreclosure of the property above then you or your attorney must file a written appearance and answer this before OCT 31, 2016 or you will be forever barred from claiming that you are entitled to the benefits of said Act"

Now, forgive me for my ignorance, but is this just a foreclosure notice? And are they always posted in the news paper like this? If so, what happens from here, and is there anyway for me to follow up on this property?

Any feedback will be greatly appreciated!

Thanks,

Aaron

P.S. This is my first forum post, I'm hoping to engage in the BP community more often!

[Douglas Snook]

Aaron

Foreclosure in MA can be complicated. When the economy initially turned, many foreclosures where not done properly. This may be one and it is being redone (a possibility) Or the foreclosure may never have taken place even after several years. There was such a backlog some are just getting reached. Sometimes even if the foreclosure takes place, the deed to the new buyer may not be recorded for some time. Until it is recorded the city is still going to show the old owner as of record.

Part of the foreclosure process does require advertisement in the local paper a certain number of time before the actual sale.

If the notice gave a court docket number you can look at the case at the land court in Boston and see who the attorney is and try to contact them about purchasing or purchasing when the actual sale is (without looking at the actual ad, this may be the first step before the foreclosure is scheduled in which case there will be additional notices)

Not sure if there is a law library in New Bedford at the court but if so they might be able to provide some additional information regarding how a foreclosure works in MA. (I think there is a law library at the Fall River Court)

Usually the bank will buy back the foreclosure (because they are owed more then the property is worth) and then hand it off to one of their REO brokerages for listing for sale to the public at a market rate.