- May 13, 2014
- Posted by: admin
- Category: Real Estate Post
Are you or someone you know facing foreclosure? Some things you may want to consider if you are in the foreclosure process. In some states, banks are demanding that homeowners vacate their homes, but then fail to transfer title out of the homeowners’ names, leaving them liable for damage and homeowners association dues. The Associations then file lawsuits against the homeowners because they can only collect from the legal title owners. If you or someone you know is in a foreclosure process, take the time to find out what the rules are in your state. Before you vacate the property, the title should be transferred out of your name. In many states, including Arizona, homeowners are also liable to reimburse the Association for all the attorney’s fees and costs expended to collect from the homeowners, together with interest at the rate outlined in the Declaration of Covenants, Conditions & Restrictions (CC&Rs). The information is out there, you just need to know where to look.
You can find out who is currently on a title for real estate and property by contacting your local title company and pull title or also know as a preliminary title search. This can take some time (up to 3-4 days) to see the results and cost several hundred dollars unless you have a good contact. You can also go online and use a “Title Search” site for quicker results. Use the title search feature to view current ownership and title. With a good resource, you should be able to view current tax liens, judgments, bankruptcies, foreclosure activity, and 1st and 2nd mortgages. A reliable online Property Records or Title Search company will usually have current records as they are linked to the county recorders office and reflect/report information as the county updates their records and images.
Foreclosure has been affecting home ownership throughout the United States since the real estate crash in 2006 and 2007. As new waves of foreclosures continue to occur, we find ourselves having to muddle through the debris. Lien and property records are available for public viewing at the county recorders office in each state.
You can also find out deed information and who is currently on a title for a property by contacting your local title company or visiting an online Property Records/Title Search website with faster results. It is possible to view foreclosure activity status of a property and stage of foreclosure a property is currently in: notice of default, pre-foreclosure, auction or REO (bank-owned). (In most cases records provide auction location and date, trustee and bank contact information).
Real Estate Title Search Services
U.S. Title Records