Help Please - Not Urgent

Discussion in 'Urgent - Help Needed' started by MS Rebel, Mar 3, 2006.

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  1. MS Rebel

    MS Rebel Senior Member

    0
    Aug 27, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Mississippi
    I'll try to be clear - forgive me if I am not. It is confusing.

    I have an order for a 2055 (old form) from OCWEN.

    Landroll says it is owned by: Amanda K. Moulder
    Legal description: Lot 35, yada, yada, yada
    Address matches that on the order from OCWEN as '2 Highland Square', tax map is correct as lot 35.

    Ok, it's a different owner's name on the order.
    Order states: Robert A. Davis at 2 Highland Square. (this is a pre-foreclosure)

    Next step - I pulled the deed. The original owner (Moulder) did in fact transfer a parcel to Davis on 3/10/2005. However the Lot # on the deed is Lot 33. (not lot 35 as the legal description says for this particular address)

    ?????? I look up lot 33 and it does not appear to have any association with these 2 people.

    Question: If this Davis fellow has a lien on this property - wouldn't his name come up in the landroll search somewhere? Only her name will come up. Even if the lot # was wrong, there should be something on record with his name on it besides this warranty deed? Doesn't matter to me if it's lot 33 or 35 - I'll use the correct legal description for that address.

    I can find a deed that transfers the wrong property to someone who is not on the landrolls and he has a lien on it??? But the property was (and remains on record) owned by the person who transferred the wrong lot #? Doesn't it seem like the man's name would come up even if the wrong lot # was on the deed?

    Darn, I have a headache. Help please. What should I do? (besides get drunk) I know to explain all this in the report, but should I take any other steps to confirm something else?

    :huh:

    I've seen too many of these - the house was a foreclosure - bought and fixed up, then suddenly it sells for triple what was paid for it or more and goes straight into foreclosure again? Seems like these people are paying idiots to use their credit and getting huge amounts of $$$ ... knowing the note will never be paid.
     
  2. DB

    DB Elite Member

    0
    Apr 29, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Tennessee
    I just sent one in where the POA of a life estate, gave .75±Ac to his brother and retained 32±Ac in the life estate ..... court house put the whole 33 acres in the brothers name....

    I don't want to sound smart alecky, but you have an order to appraise the property .... let the title company work out who actually owns it .. :D
     
  3. Ray Miller

    Ray Miller Elite Member

    0
    Feb 20, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Wisconsin
    I would call or post OCWEN and tell the problem. Asking them to double check borrower and address.

    If they come back the same I would complete the report and note all that you find. You are appraising the property not the owners. It will be up to them to figure out who is who. Also be sure the court house office has not messed up. I would be making copies of all that I find and putting them in the report.
     
  4. Ray Miller

    Ray Miller Elite Member

    0
    Feb 20, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Wisconsin
    Sorry DB, you were posting while I was typing.

    Don't great minds run on the same tracks?
     
  5. Damon Pedersen

    Damon Pedersen Junior Member

    0
    Jan 18, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Iowa
    I would do the order, note the issues of title transfer and let them figure it out. Don't even bother trying to call Ocwen. The phone people in India will have a h&ll of a time trying to understand all that title stuff. Their English-India translater dictionary thing won't even begin to keep up.

    Damon
     
  6. Al Franke

    Al Franke New Member

    0
    Feb 15, 2006
    Rhonda:

    1) Appraise 2 Highland Square (Lot 35)

    2) On the form, use "Owner of Record" as property owner

    3) Get drunk and let Ocwen figure it out

    Hope this helps.

    Al Franke, SRA
     
  7. DB

    DB Elite Member

    0
    Apr 29, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Tennessee
    Mr. Ray ... we often find ourselves in this not-so-vicious circle of thought .... :D
     
  8. MS Rebel

    MS Rebel Senior Member

    0
    Aug 27, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Mississippi
    :rof: :rof: :rof:

    Perfect! I won't worry about who owns the da*n thing! Now where's that bottle?

    Doug ... you don't mean to sound smart alecky? Now don't lie to me... see that whip? Did you see the picture of the 'Free Puppy' in the cooler? Janet thinks it's the perfect dog for you!

    Ray ... I will post to Ocwen and check with the courthouse. I would not try to explain this to Ocwen - I'll just get them to verify address. I will also put copies of all this in the report.

    Damon ... I've tried that only once. Didn't take long to figure out that I should not call and ask questions. They are always very nice, but you're right - the dictionary is lacking. LOL

    Al ... that's exactly what I am going to do!

    Thanks guys for the quick response. Have a super-duper weekend!

    :new_all_coholic:
     
  9. DB

    DB Elite Member

    0
    Apr 29, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Tennessee
    I think I'll stick with Jasper .... that thang freaked me out too ..
     
  10. aussie ken

    aussie ken Member

    0
    Mar 11, 2005
    Professional Status:
    Retired Appraiser
    State:
    Australia
    Who owns it?

    Good Afternoon Rhonda,

    Its marvelous how titles can occassionally be stuffed up.

    Really the boys have largely covered the issue and that is to do your report noting the ownership inconsistance and let them sort it out.
     
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