Who Is The Legal Owner?
I'm new here and here is the situation:
I found a house that is owned by the bank (bank one) at the assessors office.
THe bank paid the taxes on the house according to the tax info.
However the foreclosure procedings against the (owner?) is not until March 22. Even though the house is listed as owned by the bank and they paid the taxes does the person who owned the house still have an option to sell it to me and avoid the foreclosure.
I met him last friday and he said "oh that propert was trouble for me I just gave it back to the bank"
I tried getting through to the bank but that was a hairy mess and no one knew what I was talking about.
Anyone have any insight into this situation? I live in Milwaukee wisconsin
If the (former) homeowner deeded the property to the lender to avoid a foreclosure, the (former) homeowner has nothing to sell....
If you are interested in the property, you must contact the (former) mortgagee, now the owner of the property. though you could call their REO department, it would probably be most expedient to start your inquiry thru the former owner's contact. Get the name. address, Fax and phone numbers for the last rep that the former homeowner spoke with...
Thank you.
Im not sure the owner officially turned the deed over. I'll find out today. I think he just ignored the whole situation.