All Forum Posts by: Mark Enriquez

Christian Carson at Fairmount Title. 

https://www.fairmounttitle.com/

Title examiner here. 
You're right, the subordination should have been filed at the time that the junior mortgage. Hopefully the subord is misindexed with the county. 

If it were me, I'd call USAA to see if a subordination was drawn up with the mortgage. 

Or, maybe look at the foreclosure case to see if there is any info on the complaint or other filings stating the position of liens? 

Do you have specific houses in mind? 

Many of the abandoned houses and buildings in Cuyahoga will go to auction, but not the sheriff's sale. The board of revisions will auction the property sometime in Autumn. It will be a three day auction at a convention center. The forfeiture auction, it's something to keep in mind if you can't find the owners. 

I'm watching quite a few abandoned properties. The owners are deceased with no known heirs. I'll try my hand at the auction. 

Here is a brief run down on how to find out if the property will be at the forfeiture auction. 

If you get the property address, go to the county auditor site and search it. Find the eight digit parcel number. Write it down. Go to the county clerk of courts online docket and select foreclosure search. Put the eight digit parcel number into the search criteria and see if a "BR" case comes up. it will look like BR-19-916503. Click on the link and explore the docket. If the people are alive, the address they live at currently might be in listed under the service entries. 

Or, use Spokeo or Intelius, or some other site like them. If they are a live, you should be able to find them, but getting them to have a conversation with you might be a bigger challenge. 

You can message me, and I'll do it. 

good luck

@Robert matelski thanks so much. That is an extremely helpful answer. 

Hello,

I'm looking for someone experienced with negotiating short sales. I have a ton of questions, and I'd like to learn more about the negotiation process. I'm looking up articles online, reading what I can, but I'd love to actually speak with someone, hear experiences. 

I also have a LARGE number of leads on short sales, thousands of them in Cuyahoga county. I have been tossing them to the side because my lack of knowledge in the area of short sales, but I feel like that might be a mistake to do. Trying to figure out what to do with them. 

One of the main questions I have is, if there are a few additional liens attached to the property, how are they dealt with? I'd imagine in some cases they will kill the deal, but is that always the case? Am I asking the right questions about additional liens?

thanks in advance,

mark

Are you able to get a copy of the divorce decree with separation agreement? In Ohio, divorce decrees are public record but only available upon request. 

If you can get the divorce, read through it to see how the owners are legally obliged to handle a sale of the property. It should state pretty clearly. That might give you a good idea of the situation you are dealing with, and if you will be to - or willing to arrange for the two of them to sell the property before it reaches auction. 

the bank takes a bunch of properties back at auction. 

You can call the lender. Have the loan number handy, keep in mind that if the mortgage was assigned, it might have a different number to reference. Once you have an operator ready, conference call your seller. Get the pay off.

You can get a signed release and send it in. US Bank charges 20 dollars for a pay off that way.

@Ron S. thanks. I talk to attorneys as much as I can to make sure I am staying within my boundaries. Come to think of it, I've been attorney's offices at least twice a month all year discussing contracts, what I can do and what I can not do. It fascinates me, so I don't mind the consultation fees at this point of learning. Pay to play. 

thanks again.

@Hen Ley we posted at the same time! 

Okay, that makes more sense. If it's a break in chain they would need that corrected for a clear title. The trustee will more than likely list the break in chain in the preliminary judicial report, so that the court and the bank are aware. 

An attorney would need more than likely be needed to quiet title. And if you are in a trustee state, there won't be enough time for that before auction. 

That's rough. It might be clear of liens, but the curative title work might be a headache, and expensive. And if you were looking to flip, it could jam you up for quite some time.