Reo

[Otto_2000]

What is the name of your state? New York

I found a foreclosed home that I am interested in purchasing. I went to the Property Recording Clerk's website and researched the property. Under the Grantor/Grantee heading they had a name listed and next to it it said "referee", followed by the name of the bank. Then they had the name of the homeowner (or former home owner, if they foreclosed) and next to his name was written "by referee", with the banks name following, again.

What does this all mean?

 

[HomeGuru]

What is the name of your state? New York

I found a foreclosed home that I am interested in purchasing. I went to the Property Recording Clerk's website and researched the property. Under the Grantor/Grantee heading they had a name listed and next to it it said "referee", followed by the name of the bank. Then they had the name of the homeowner (or former home owner, if they foreclosed) and next to his name was written "by referee", with the banks name following, again.

What does this all mean?

**A: and when you asked the worker's at the recorder's office, what did they tell you?

 

[Otto_2000]

reo

I didn't actually speak to anyone. I researched this online. They have a website that you enter the tax map number and it brings up the mortgage/mortgagee and grantor/grantee information.

 

[HomeGuru]

Re: reo

I didn't actually speak to anyone. I researched this online. They have a website that you enter the tax map number and it brings up the mortgage/mortgagee and grantor/grantee information.

**A: ok, then pick up the phone and call them. Then post the info.

 

[Otto_2000]

help!

Okay. I picked up the phone and called the property recorder and the mortgage tax office and none of them knew what I was talking about.

The bank (according to their recording) wants me to send them an "assignment of property" and a "deed of trust". They will not respond to inquiries without these two items faxed to them. But, no one knows what they are at the property clerks office. All I have are the items that refer to the "referee and by referee" The page has the word "deed" on it but does not mention deed of trust. Is that a deed of trust?

Also, I have a page that mentions assignment of "mortgage". Is that the same as an assignment of "property"?

Please, help me. The bank has made it impossible to talk to anyone in order to get clarification on what they are asking for!

 

[HomeGuru]

Re: help!

Okay. I picked up the phone and called the property recorder and the mortgage tax office and none of them knew what I was talking about.

The bank (according to their recording) wants me to send them an "assignment of property" and a "deed of trust". They will not respond to inquiries without these two items faxed to them. But, no one knows what they are at the property clerks office. All I have are the items that refer to the "referee and by referee" The page has the word "deed" on it but does not mention deed of trust. Is that a deed of trust?

Also, I have a page that mentions assignment of "mortgage". Is that the same as an assignment of "property"?

Please, help me. The bank has made it impossible to talk to anyone in order to get clarification on what they are asking for!

**A: something is missing here. If the bank owns the property then they would be telling you to submit an offer or talk to their reo division. They would not be asking for those docs that you stated. Hire an attorney.

 

[Otto_2000]

reo

Well, this is a messy situation. The lender who foreclosed on the house was Banker's Trust Company. They merged with Deutsche Bank. I just have the feeling that Deutsche Bank doesn't really want to deal with these REO's and is just doing it as a courtesy. They as much said so on their recording. I don't think they are in the mortgage business.

I faxed them the info I had and hopefully, they will contact me with some info that would be helpful. I think it could be that they sold the mortgage or REO to yet another bank.

 

[HomeGuru]

Re: reo

Well, this is a messy situation. The lender who foreclosed on the house was Banker's Trust Company. They merged with Deutsche Bank. I just have the feeling that Deutsche Bank doesn't really want to deal with these REO's and is just doing it as a courtesy. They as much said so on their recording. I don't think they are in the mortgage business.

I faxed them the info I had and hopefully, they will contact me with some info that would be helpful. I think it could be that they sold the mortgage or REO to yet another bank.

**A: ok, so what else is going on that you did not care to tell us?