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FIRST ANSWER
I only had one similar situation, but it was mainly because it was a 'For Sale By Owner'. The owner thought he had to obtain the deed before he could sell the home. I told him to let the buyer's attorney obtain it.
In the title search, the buyer's attorney found several law suits against the owner that became judgements. It became a big hassle to get through, but with my advise, the seller's were finally able to transfer clear title on the home.
I have several questions. I feel like I am missing something in your explaination. If this was a foreclosure, they can not have lost the deed. Are you sure the home was not just falling into forclosure? Were you dealing with a realtor or the homeowner? It can take three weeks to get a bank approval on a short sale or a bank sale, but some of the other factors do not add up.
-Donna
Wed Jan 14 2009, 11:28