Posted by JT-IN on December 20, 2002 at 11:55:27:
Mark:
Two things come to mind here…
The first is that the owner could have done a deed in lieu of… transferring the property back to Secy of Housing…
More likely is… especially if there was an earlier foreclosure, transferring the property back to HUD… there could have been an error or a missed party holding an interest in the property. There may be a need to foreclose again to clear the title.
Or another scenario would be that the they did a deed in lieu of… and filed BK earlier, tainting the transfer, and the need to continue with a foreclosure is required to give clear title to HUD.
As I continue to write, I think of other situations that “could be”, but I will stop here. The reason would be evident if you were to read the record completely. There would no dooubt be some glaring reason for this process…
Just the way that I view things…
JT-IN