Full Reconveyance recorded following NTS, But Auction is still on.


#1

I am looking at buying this property at auction, but something does not seem right. Here are the details: NTS dated 3/16/10, trustee is Reconstruct. On 05/03/10, there are several recordings in this order on the same day: 1). Owner records a grant deed to a trust; 2). Substitution of trustee (supposedly) signed by BOFA, from Reconstruct to Trustee Services; 3). Full reconveyance recorded by Trustee Services and title conveyed to a third party. The auction has been postponed every month since then and is now scheduled in january. ForeclosureRadar still shows Recontrust as the trustee. The home has been vacant for a few months - appliances are missing and other damage done to the property. My sources tell me the owners have moved out of town several months ago. Does anyone else have any similar experience? If these recordings were real, why would the auction still be on and why would the owners remove appliances, damage the property and skip town? Are these recordings fraudulant? What is the impact on the title if I buy at auction? Should I drop it? Sorry there are too many questions, you are the only guys who give thoughful answers. We switched to foreclosureradar as a paying member after using a competitor site for several months. Thank you!


#2

Hi Monty,
I would suggest pulling a copy of the substitution of trustee and the Full Reconveyance to examine that document. I have a friend that works at our local county recorders office and you would not believe the people that try to record fraudulent recons. They do their best to try to intercept the documents but occasionally you will see one sneak through. She has seen homeowners sign and notarize their own substitution of trustee and then have that new trustee reconvey the loan. None of which is valid and doe not stop the foreclosure.
If you want to send the RADAR ID number to support@foreclosureradar.com we will be happy to confirm that Recon Trust still has an active TS.


#3

Thank you, Michelle. I am emailing you the RADAR ID. Thanks for your help.


#4

We got it and are researching right now! We will let you know if it appears to be a fraudulent document. We do show an active sale date so if the documents are legit then Recon Trust has been continuing to postpone a sale that should have been cancelled months ago. Stay tuned…