Wat to do regarding a foreclosure and quiet title?

UPDATED: Oct 1, 2022

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Wat to do regarding a foreclosure and quiet title?

There is a residence that I want to purchase. The owner took out a home equity line of credit and never paid a payment. The house was in foreclosure, then the foreclosure was discontinued because they couldn’t serve the homeowner with the paperwork. The amount of money that is owed is more than what the house is worth. About 2 years ago, the bank filed a quiet title but it was discontinued and the bank has not made a move on the residence since. I know that the homeowner has made no payment on any money that is owed to the bank. I’m interested in this property and don’t know what to do.

Asked on February 10, 2019 under Real Estate Law, Pennsylvania


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

There is nothing you can do. If you can find the owner, you could offer to buy from him, BUT if the HELOC is not paid, the bank could foreclose on you: that they did not foreclose before because they could not serve the owner does not make the HELOC or their security interest in the home go away, and they may still foreclose. Or if the bank (or the government, for unpaid taxes) does ever foreclose, you could try to buy at the foreclosure sale. But you can't get the property with buying it from the owner and dealing with the loan, or else buying it after a foreclosure.

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