The entity can transfer “some” ownership to anyone but until the mortgage contract is satisfied with the original borrower, the mortgage for the property remains the problem of the original borrower (unless the mortgage holder would allow assumption of mortgage and release of the original borrower). Good luck with that one in 2024
Looks like they now owe about $440,000 in unpaid taxes if I am figuring correctly. But here is the catch I believe. Does not a lender usually add taxes and insurance to the monthly mortgage to ensure it does not default? The entire scenario is one big red flag! This is getting better by the day!
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