There is a house where the owners have never lived there and we have been trying to track them down. In checking with Maryland land records, we have a deed, a deed of trust and an appointment of substitute trustee recorded. Rumor has it that the house is in foreclosure. Does the appointment of substitute trustee indicate that foreclosure is imminent? Would the substitute trustee be the new contact person?
2007-05-10 02:42:06 · 2 answers · asked by carinyosa99 3 in Business & Finance ➔ Renting & Real Estate
Sounds like it. Though they may simply tell you that "once it's foreclosed, we'll get it listed and you can call the Realtor".
If there's no equity in it though, they might go ahead and give you the seller's info so you could buy it direct from the seller.
2007-05-10 04:32:34 · answer #1 · answered by teran_realtor 7 · 0⤊ 0⤋
The recording of the Substitution of Trustee could indicate a foreclosure is upcoming. As far as locating the owners, did you try a people search on Yahoo? Try calling the tax assessors office, they may have a different address for the owners. The new trustee may have the owner's address, but they normally aren't allowed to give it out due to confidentially.
2007-05-12 17:56:06 · answer #2 · answered by lynnette219 2 · 1⤊ 0⤋