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Updated almost 12 years ago,
Where's the mortgage?
I'm working on tax deed sales in my area. My goal is to get to the owners before the tax deed sale date and buy from them directly. I spoke with a home owner today that is willing to sell me her property super cheap but she thinks there may a mortgage. She doesn't know. I know... LOL. So I checked records and found an old deed of trust from 1997. It wasn't clear on a lien holder or an amount owed. I had an RE agent also check for me and...same thing. Tomorrow I'll call my title company and run a more precise title check.
Is it possible that lenders "forget". I would assume that if there was a mortgage agaist the property, then the lender would have paid the back taxes by now to secure its interest in the property versus letting it go for auction.