Awkward situation after purchase house on foreclosure auction (TS)


#1

Recently I?ve purchased house on foreclosure auction (trustee sale), and now it looks like I am trapped in awkward situation.
Here is the deal:
There were 2 loans on this property. 2nd junior loan was foreclosed, and property was sold to me on foreclosure auction. Trustee company transferred and recorded title on my name. Then I?ve learned who is the lender of the 1st?(senior) loan. The lender is Countrywide. OK, I’ve?called them and said that I am the owner of this house and want to pay all debts on this loan, and that I am going to refinance this loan.?Countrywide foreclosure department people?told me that I am not the owner of this account, they cannot provide information to me, and that they will not allow me to pay this debt, because I have not permission from the account owner. Additionally, they are going to foreclose this property again, and in this case I lose all money I?ve paid on the 1st auction.
So, I just wondering, could they prevent my attempt to refinance this property, and my attempt to pay debts on this property? And how I can pay the loan taken by the previous owner of this property?
Thank you.


#2

Additionally, I’ve forgot to say maybe it does matter that this property is in Silicon Valley, California.


#3

I’ve ran into this before. If you’ll be getting a new loan just have the title company handling that loan put in a payoff request. Two other strategies:

  1. Contact the prior owner and have them help. It is in their best interest to have you pay the loan off as it will help their credit. I’ve even just brought their loan current and made payments using their coupon book when they’ve agreed. Great for me as it means little cash out of pocket, great for them as it shows recent payment history.
  2. Keep asking for supervisors until you get someone with a clue. Fax them your trustee’s deed, and ask for a payoff demand. Document everything. Ultimately they must allow you to pay.

#4

My thoughts are exactly in the same direction.
Sean, thank you for your helpful comments.