QUESTION
If the company I have your mortgage with is bought while you are in foreclosure, does the new company have to re-file in the court as a new owner?
Asked on Jan 11th, 2013 on Foreclosures - Wisconsin
4 ANSWERS
1 Award
No, the new company steps into the shoes of the former lender.
Answered on Jan 19th, 2013 at 7:34 PM
No. They simply need to file an assignment of trust deed.
Answered on Jan 16th, 2013 at 5:16 PM
No. It is the trustee that is foreclosing.
Answered on Jan 15th, 2013 at 8:19 PM
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If your question is does a new entity which acquires a mortgage in the midst of a foreclosure have to file some document to show that they are the true party in interest, the answer is yes. They nearly always do so. But there are ways around this, such as appointing the Plaintiff in the case as agent to complete the foreclosure on behalf of the true mortgage-holder. If you intend to defend against a foreclosure, hire a lawyer. Skilled ones know how to help.
Answered on Jan 15th, 2013 at 2:20 AM