The Missing Unrecorded Note
I talked to several times about doing due diligence whether its notes or any other type of real estate-related product yesterday I went to a fox small community in south texas called Flores feel and it’s in the oil patch and they’re having the first Tuesday of February 2020 attack sale.
I wanted to do some research on optic their property I had some interesting so I went to the county clerk’s office first to put the file on the lawsuit for the actual so many of the back taxes and I found everything in order that the owner lived in California and that he it been served properly by us mail and so then I went to the courthouse to look up the situation on the property is far as recorder of deeds site.
I went in the recorder of these offices Sagat on their computer system and I’m at depth this property and it was very confusing at first but anyways when I found out was, but the house and 1969 and he got a loan mortgage from a federal agency that deals with mortgages out in the rural areas then I found a document saying that did the deed of trust had been that have been a substitution of the deed of trust of the trustee and a trustee indicated that not only was there a change in the trustee but the loan was in arrears and should be foreclosed on.
Ii did further searching in the courthouse recorder of deeds and I could not find a loan that had been recorded against the property now it’s in kind of funny he the original deed of trust set it was a long but it was nothing on the records in the courthouse there was nothing to say that there was a satisfaction of the lean nor was any recording of the note.
What I decided to do was possible because it just didn’t seem right I didn’t want to get in a situation where I made a bid at the textile and one and then I couldn’t get clear title because the way it stands right now according to the documentation the courthouse there is a long but it’s not recorded and since it’s the federal government I don’t put the glee want to get tied up trying to prove that there is a loan and they haven’t recorded it it it just has a mess.
this is an example of where you have to do your due diligence to me it’s just not worth pursuing any further I had a friend to me, my soul, why. you just get it and then turn around and sell it why you can’t because you can’t get a clear title so this is just another example of where you need to do your due diligence.
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The Missing Unrecorded Note
The Missing Unrecorded Note