All Forum Posts by: Arcinio Arauz

I plan to keep the property but can't get anywhere with B of A on how to resolve the lien which looks like it exist. Is it common that such situations take so long? 2011 no payment and still nothing going on?

Do you the property address? If so find out who the owner is. 

 Tell me a little more about the insurance...sorry for the rookie question, but what will that do?

forgot to mention K. Marie P. for assistance 

Hello all,

Say I have a house (inherited). I conduct a title search to find a possible lien from B of A for a HELOC. The HELOC hasn't been paid since 2011. It's now 2016 (as you know). I transfer title into my name, the HELOC is under deceased owner's name. I phone B of A...the HELOC dept says the mortgage dept has taken the account. The mortgage dept says the HELOC dept is handling the account...the death dept says they see no amount due.

I went back to the recorder's office and see the HELOC but no reconveyance. Nobody at B of A can give me any information because they say the account isn't in my name even though the house is! What will happen? As of yet, no NODs or NOTS notices. What happens when a debt is due and the one that took upon the debt has passed and it doesn't get paid. I would like to work with B of A but they say they can't give any info because I'm not the account holder.

Welcome to BP  Shane. I'm from Panama and attended a major surf competition back in 2012. Let me know how I can assist in reference to Panama. 

For the sake of asking this question I ask by scenario....

 What if a property was gifted to me via quit claim. After looking into the title records I find "an order of the court" by which a creditor lien was attached to the said property. From what I understand whenever a change of ownership takes place, the county may send a notification to that lien holder indicating new owner.

Can that lien holder that attached the lien through the courts come and try to collect from me personally? I understand that the lien will no doubt come to surface when an common  sale takes place. In this case, I plan to keep the property but I question what the original lien holder can do to me. Is there any recourse? Can the creditor request some investigation?

Thanks for your help

I received a keyword alert on adverse possession. I'm currently in a situation where I'll finally complete my first successful AP deal.

As Mr. Hammond already stated it is a very lengthy and risky process and involves lots of study and homework before even considering taking possession. 90% of it involves detective type work investigating and find out if there are any heirs,  beneficiaries, trustees, relatives neighbors or any other parties that may have any sort of equitable interest and said property. This also includes local Municipalities such as the county or city that may also have interest in property as well. Doing a very very thorough research and investigation on all subject matters is extremely important before even considering the AP deal. My first AP deal went south after I found out that the public administrator had their hand on the property, at which point I was already in and started to claim it as my own. The end result was I was served by the sheriff department had to appear in court. Thankfully I just told the judge I was an amateur and did not know what I was doing and I ended up with no charges. So for the original poster, whether it be a tax deed or AP deal the biggest Takeaway is do your homework!

Ralph,

Hello! Where abouts in Panama are you located? Three things....

1. Im also an aspiring pilot! Do you fly for Copa?

2. I'm Panamanian from David Chiriqui (currently in CA, USA)

3. I have a few REI friends in Panama that I may be able to connect you with.

Jack Miller once said.... "Procrastination is an investor's deadliest sin"  

I think that may hold many back.