Ok, I'm new to the DG group and just starting out.
I've met with an attorney, made some realtor contacts, etc and have started building a buyers list.
My attorney is actually an investor also who is looking to buy & sell (also a part-owner of a title co.).
So, I'm researching a house for him that I had seen before and he wanted to know if I had any information on it. My county records are only partially online so I have to go to the courthouse (in my town) to do more research. Here's the gist of it:
1.Still in original owner's name, but they have moved away from the area and the house is vacant for about 3 years (according to previous selling broker).
2.Trail of DOT's, Releases, etc leads to an Argent Mortgage Co, then nothing after that.
3.2nd DOT recorded for the selling agent's commission.
4.Tax lien also filed by IRS in 2008.
5.County taxes are paid up, but have been paid by Bank of America and there is no Assignment of the note or DOT on record. Courthouse recorder informs me of MERS(Mortgage Electronic Registration System).
6.I check MERS free web search to see if the address/owner are on record. Voila, they are, however, it shows an active note date back to 2003, which I found a Release for. MERS says it's still active, though.
7.MERS shows Chase Home Finance as the servicer and someone else as the Investor.
Does anyone know what the heck is going on with this? I'm inclined to think that MERS maybe doesn't have the accurate information because why would BofA be paying taxes on a property that Chase is servicing.
If anyone can offer some assistance I would appreciate it. I know, probably not worth the effort with all the title issues, but still I'm curious.
Ok, I'm new to the DG group and just starting out.
I've met with an attorney, made some realtor contacts, etc and have started building a buyers list.
My attorney is actually an investor also who is looking to buy & sell (also a part-owner of a title co.).
So, I'm researching a house for him that I had seen before and he wanted to know if I had any information on it. My county records are only partially online so I have to go to the courthouse (in my town) to do more research. Here's the gist of it:
1.Still in original owner's name, but they have moved away from the area and the house is vacant for about 3 years (according to previous selling broker).
2.Trail of DOT's, Releases, etc leads to an Argent Mortgage Co, then nothing after that.
3.2nd DOT recorded for the selling agent's commission.
4.Tax lien also filed by IRS in 2008.
5.County taxes are paid up, but have been paid by Bank of America and there is no Assignment of the note or DOT on record. Courthouse recorder informs me of MERS(Mortgage Electronic Registration System).
6.I check MERS free web search to see if the address/owner are on record. Voila, they are, however, it shows an active note date back to 2003, which I found a Release for. MERS says it's still active, though.
7.MERS shows Chase Home Finance as the servicer and someone else as the Investor.
Does anyone know what the heck is going on with this? I'm inclined to think that MERS maybe doesn't have the accurate information because why would BofA be paying taxes on a property that Chase is servicing.
If anyone can offer some assistance I would appreciate it. I know, probably not worth the effort with all the title issues, but still I'm curious.
TIA