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Updated over 6 years ago,

User Stats

7
Posts
0
Votes
Jose Duran
  • Multi-family Investor
  • Wilmington, CA
0
Votes |
7
Posts

Note Sold After I Foreclosed

Jose Duran
  • Multi-family Investor
  • Wilmington, CA
Posted

Hello Everyone, 

I started investing in Non Performing Notes a couple of years ago, so I still consider myself new at it. I was wondering if anyone can help me understand this.

I aquired a NP second lien position and when I bought it I was unable to workout a payment plan with the homeowners, so eventually I proceeded to foreclose. Unable to make contact with the homeowner I let the note sit unattended. I just found out it had been sold last year 2017. I’m under the impression that since I foreclosed I should’ve been notified of any sale of the property. Is it legal for homeowners to sell the property without me knowing? And wouldn’t the buyer do a tittle search where it would show them I foreclosed? Unless they didn’t run a tittle search, which seems really dumb. Sorry if this topic has come up before, I count find anything on this specific situation. 

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