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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] tax foreclsure and bank in bankruptcy... Posted by Stu on January 29, 2004 at 4:16 PM Ward, So I may purchase the tax sale foreslosure action currently in-process on a house that I, by chance, have put a contract on. I found out about the tax sale forclosure proceeding today after running a title search which I needed to do to buy the home. The problem is that the bank that is on record of owning the 1st Trust started bankruptcy proceedings in 1999 and they are still going on. Is the bank then protected from me taking the property and clearing the title through a tax sale foreclosure? Also, the bank itself has no record of the mortgage, there is no record of the mortgage with MERS, and a title search comes up with nothing current. I want to do the tax sale forclosure because it would then be a way I could clear the title and make it "marketable." Is there a way to still forclose on the property? Is there a way I could buy the house with my own money and move in and then do a "quiet title action" from the couch inside in front of the fireplace? DO you have any other ideas? This is my first house, and the help you have given me so far has been great. Thanks so much! Stu Follow Ups: Your slim chance is being the highest bidder at the tax lien sale... Ward-CA- 10:44 PM, 01/29/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : So I may purchase the tax sale foreslosure action currently in-process on a house that I, by chance, have put a contract on. I found out about the tax sale forclosure proceeding today after running a title search which I needed to do to buy the home. : The problem is that the bank that is on record of owning the 1st Trust started bankruptcy proceedings in 1999 and they are still going on. Is the bank then protected from me taking the property and clearing the title through a tax sale foreclosure? : Also, the bank itself has no record of the mortgage, there is no record of the mortgage with MERS, and a title search comes up with nothing current. I want to do the tax sale forclosure because it would then be a way I could clear the title and make it "marketable." : Is there a way to still forclose on the property? : Is there a way I could buy the house with my own money and move in and then do a "quiet title action" from the couch inside in front of the fireplace? DO you have any other ideas? : This is my first house, and the help you have given me so far has been great. Thanks so much! : Stu Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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