Totally Confused
I went to the court house to try and get a list of the notice of Defaults. I went to the register of deeds, asked for notice of defaults or Lis Pendens. No luck.
Our county has all docs online so I did a query for lis pendens. (The query was already there so I figured why not) Nothing except a divorce settlement.
So I decided I would check the names that are listed in the newspaper for forclosure auction. Surely you would think if they were already in the forclosure process they would have to have one filed. So what I did was pulled up all documents that have been filed on the person. Still no Notice of Defaults or Lis Pendens.
The only thing I could find on everyone in forclosure is a filing for a substitute trustee. I am not sure but I was thinking that may be used for something else also not only forclosure. But if this is not it I have no idea of what to do. Any ideas would be much appreciated. Thank You
Why dont you check and see if there is a service in your area that provides a list of foreclosures. This would solve your solution.
If anybody in the NC area knows of one, please speak up!
Best Riches,
Jeff Adam
[addsig]
Quote:
On 2004-04-12 00:49, elliottdl wrote:
The only thing I could find on everyone in forclosure is a filing for a substitute trustee. I am not sure but I was thinking that may be used for something else also not only forclosure. But if this is not it I have no idea of what to do. Any ideas would be much appreciated. Thank You
That's what you want. I look only for Substitute Trustee/Successor Trustee filings because that means the bank has turned the deed over to a lawyer to have the property auctioned. Usually the lawyer sits on it for a little while before filing official notice. While it is in limbo that is when you want to contact the homeowner.
Jesse
look up the clerk of the court , on line,
the go to public records , there is where
you should find all the foreclosures and
tax sales.
then you will need to get the file #
to look at the file and most of all , is
the dates of the documents.
go getem.
Thank you for all of the info.
Jesse,
Is an appointment of a substitute trustee only filed when someone is going to be forclosed on? I was reading it and it states that "the Deed of trust provides that the Owner and holder may for any reason remove the trustee and appoint a successor".
So my thinking is that it may not only be used when forclosure is near. the reason I ask is because I would hate to send a letter to someone about being forclosed on and that not be the case. But I may be wrong just curious what your take on this may be.
awp,
No luck finding that online but I will keep looking. Thanks
Have you tried just calling someone at the records department, maybe even the foreclosure department, and asking how you can find the houses which have had a notice of default files? I work several counties and frequently have to call the Property Appraisers office, Records, GIS, Leins, and zoning of many different counties. Everyone is really pleasant and I usually get all my questions answered over the phone or they FAX the information to me.
Brenda
Thanks Brenda for the advice. I will certainly try it.
go to your local title company. they have already the foot work for you.
I believe NC is a Trust Deed state (and an attorney state, so no title companies). In your state, the borrower has already vested title in the property with the lender's trustee by a Deed of Trust.
When the borrower defaults on his loan, the lender simply instructs the trustee to begin a foreclosure sale. Because this is a non-judicial process, no court filing for a pending lawsuit is required. Your only clues to the pending foreclosure sale will be the notice of substitute trustee filing with the registrar of deeds, and the trustee sale announcement in the local newspaper(s).
This is my understanding, though I admit it may be imperfect.
Yes,you are correct. The substitution of trustee can be for a number of reasons. It can be changed numerous times at the direction of the beneficiary when it involves a trust deed (TD) state with the power of sale such as NC. It happens when the property is reconveyed to the owner of record when a mortgage(T.D) is satisfied.
Having said that, its most common use is for the initiation of a foreclosure. You will begin to notice certain trustees (read foreclosure attnys/foreclosure mills which are frequently used in your area. However, they may be reconveying also. The solution is to assume its a foreclosure until you learn differently.
To interesting asides. One, N.C. has a 10 day overbid process after the trustee's sale. That's for your general information since you're chasing the preforeclosures which puts you way ahead of the auction.
The other is for those who do preforeclosures in other TD states. The process offically starts with the filing of the NOD (notice of default). By watching the Substitutions of Trustee filings you actually have a day or two jump on the followers of the NOD filings. Sometimes it can be a very big advantage.
Ok I understand now. Thank you all so much for all the great info. Now I just need to use the info you have given me. Wish me luck.
David