USAA loans

Ok fellow superstars, I need real help here.  I have a property listed.  It is listed now for $35k.  I received an offer for $32k and submitted short sale packages for 1st (Greentree) and 2nd (LTD Financial).

 

My seller is a Vet and took out both loans with USAA and they were sold.   A year after they bought the property, USAA gave them a 3rd loan  At this point the liens total $150k +   

 

How can I find out who USAA sold the third loan too.   Its not a Fannie loan.   Needless to say, the 3rd will not see a dime.  I have checked Public Records and the third does not show being assigned, an LP or foreclosure notice.  Nor can I find an Assignment.

 

HELP!!!!!!!!!!!!

 

Thanks,

Terri Barrow

Keller Williams Realty

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Permalink Reply by Wendy Rulnick on May 29, 2013 at 12:19pm

Terri - I would get a title agent to do a title search to check this.  The third can be paid something, the first will dictate how much to each in the end.

Permalink Reply by Terri Barrow on May 30, 2013 at 9:00am

Hi Wendy:


Thanks for the input.  I had the Title Co. pull and it did not show anything.  That said, I did a ton of research last night and found out that USAA is known for selling their 2nd/3rd HELOCS to collection agencies.  This is why there was not an assignment or LP filed.  I have found what I need and we have submitted an authorization to speak to then.

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