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No. Prior owner would not get a HUD1. They did not pay for expenses. There often is a delay in the time frame of when owner thinks it sold and when it really closes. They can get a copy of the transfer deed from the county of record. Also have them get a mortgage credit report pulled to see what date shows.
Ryan Huggins - Thousan...
Thousand Oaks, CA
Caroline has a good answer, I wouldnt know.
With an anonymous post, it's hard to know where you're from. So all I can say is check the laws of whatever state you are in and consult with an attorney. That and you may have the wrong terminology. I've not heard of a bank buying a house at auction (why would they, they already own it), but I've heard of them "going back to the bank" as in no one bought it. At that point the bank owns it and why would the occupant get a HUD anyways, it isn't a standard sale.
He should have been served a notice of final judgment from the courts, I would think.
The laws may vary from state to state. You should blog about the requirements in your state.
Not that I am aware of, they should check the courts.
Talk to your RE attorney and title.
NO, the person who stopped paying therefore defaulting on the loan, was issued a foreclosure notice and auction date. Once the home is then resold to an end user, you bet the bank will calculate their loss due to the foreclosure and come knocking for the former owner to pay the short fall.
I have no idea
This is very good question.
The documention was the paperwork leading up to when the bank actually took the house back.
Your answers wer very helpful.
In may depend by state. In Hawaii most are judicial foreclosures. The foreclosure commissioner may tell the former owner what is due and what the property sold for. I would think the bank would notify the former owner in some states where you can look to the former owner for the outstanding balance. In Hawaii the former owner is responsible for the difference. They can then claim bankruptcy if they can not pay.
on a non judicial foreclosure there is no paperwork for the old owner.