All Forum Posts by: Account Closed

No payments were made now or during the course of the 13yrs the occupants lived there. The occupants never had a mortgage or rent to pay to anyone. I'm totally bummed out about this, I  made a few mistakes purchasing this property and now, I really don't know what to do.

The original owners abandoned the property, after 13yrs later, they tried to come back and claim it. After losing in court to the people living in the property, they signed their rights over to the mortgage service company, but they had no rights to give.

The property was foreclosed on by the mortgage service company, and the bank claim to have purchased it from them, which was only a assignment of the loan to the bank. 

So the property was  assigned to / purchased by bank and then sold to me while the bank attorneys, were still in litigation in court with the people living in the property. The bank had filed a summary motion in Circuit Court, the people living in the property filed a answer to their motion, and the judge ruled it would go to trail. That's when the bank filed a voluntary dismissal without prejudice motion and the judge granted the dismissal of their lawsuit. I filed a detainer warrant to try and get them out, they counter sue. Do I still own the property??? I had a title search done, but none of this was mentioned, I've been tricked or confused by the bank's realtor. What can I do? I can't share the documents, because I'm still in court.

The bank really didn't have any interest to assigned, because there's no leases for either side of the duplex.

One case against the property the court, found the original owners of trying to commit fraud upon the court. They loss the case, possession was awarded to the people living in the house. That means the original owners, signed off rights they didn't have in an assignment of the loan. In Which the mortgage service in turn, then assigned to the bank. At one time on Register records, the bank attorney was the grantor and the grantee, and made themselves the substitute trustee. They've already got a countersuit filed against my detainer warrant, listing all the things I'm sharing. Do I pay these people or spend potential profits fighting? Remember I can pay them almost what they want and still make a nice profits.

Yes it was purchased in foreclosure. I had an abstract title performed and they said everything was fine. But we're now seeing this popping up. Looks like they've already had a claim for a couple of years ago against the property before the bank ever showed up. And their seems to be some fraudulent activity with the bank. They thought, by  withdrawaling  of their lawsuit and selling it to me would dismiss the person's claim.

The bank and their attorney were very bogus and unprofessional, from viewing the documents. The bank's attorneys had a problem, they never provided proof of ownership. They tried to ignore the claim in general session court, but once it got into Circuit Court, the bank withdrew their lawsuit, leaving the people still living in the property and having a lien and adverse possession claim filed against the property. The bank ran away from it with all their attorneys, what am I supposed to do? I'm stuck.

Found out the original owners abandoned it, then 8 years later, tried eviction process and lost. He's saying he been to court 5 times, and each time  he's won possession, against the original owners, the bank did a voluntary dismissal without prejudice in their lawsuit and sold it to me, really while the case was going on in court. They've been there for 13 years, they have a lien against the property for 58k and the the adverse possession claim. The sold me out on this one. They couldn't win in court and sold it to me at the same time. I strongly believe they prove having an Equitable interest in the property. Eeven if I give him 40k, I can still profit, a little over 60k. What should I do?

I recently purchased a property in a foreclosure that I could literally profit up to 80k or more. It has a few cosmetic issues on the outside with no idea what's going on with the inside.  the other little detail, it has a tenant that's been living there for over 11 yrs., since the original owners abandoned it due to their financial difficulties. They don't want to move, and has a lien and adverse possession claim against the property. I made them a $6k offer, cash for keys, but they're asking for five times that. I'm already in for 150k, what do I do???