Foreclosure Screw-up!!!
Recently my friend was at the court steps bidding on a foreclosure property. He won the bid at $10,000 (2nd mortgage private lender). The judge gave him the deed and the keys to the home. Here comes the screwed up part. The property went into foreclosure again 1 week later for the amount of $50,000 (1st mortgage bank) and sold to another investor. The court has screwed up and has issued deed to two different parties. All funds have all been distributed. My friend spoke to court and they have no idea how this happened and said there is nothing they can do! The court went ahead and gave 2nd investor full ownership because he paid on the 1st mortgage. The court won't accept the fact that they had screwed up and so now my friend is out of $10,000! Can anyone offer any suggestions? He spoke to a few lawyers and no one is willing to take on the case versus the court. Any suggestions?
The answer should be found in the language used in the deed. Have your friend FAX a copy of that deed to me.
See my profile for my email address, and I'll provide my FAX #.