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I just did some perusing of the records against this property and my bet is this guy is screwed now that the news media has picked it up. The mortgage company
by techsupporter 15y ago
I just did some perusing of the records against this property and my bet is this guy is screwed now that the news media has picked it up. The mortgage company didn't "go out of business." According to deed records, the mortgage is owned by one or more of: Countrywide Home Loans, CWABS Asset-Backed Certificates[...], and ReconTrust Company of Texas. I can't tell what the second entity's full name might be (Denton County's deed image server is down and the name is longer than the data page shows), but the other two are now subsidiaries of Bank of America.
Why does this matter? Bank of America never actually foreclosed, so the original owner[1] is still the owner of record. The original owner can still contest the adverse possession in short order without dealing with the mortgage mess, assuming he cares to do so. In addition, BofA can foreclose and then evict the current occupant.
1 - Not naming the current owner here, but it is a public record.