Law Offices of Popkin & Rosaler, P.A.

FREQUENTLY ASKED QUESTIONS

Investor

Q:  I’m an investor and want information about a property.  Can you provide it?
A:  No, The Federal Fair Debt Collection Practices Act (FDCPA) prevents us from disclosing any information about a legal proceeding unless you are a defendant in the action.

Q:  Can I call the court for information?
A:  The information in the courthouse is public record.   The court may not have specific information about the property itself, but just the legal proceeding.   The court may  not be willing to provide you with this information over the telephone.

Q:  I saw a property that is going to foreclosure sale and would like to buy it.  Can you tell me how?
A:  Our office represents the lender in the foreclosure action.   We cannot provide legal advice to you.   Please seek the advice of other counsel.

Q:  I would like to bid at the foreclosure sale.   Can you tell me what the lender’s bid amount will be?
A:  No.   In order to encourage competitive bidding at the foreclosure sales, our clients have instructed us to not provide this information in advance.

Q:  Can I buy the property before it goes to foreclosure sale?
A:   The lender does not own the property unless it reverts back to them at the foreclosure sale, therefore they cannot sell you the property before then.   If you are interested in purchasing the property before a foreclosure sale you would need to contact the owner.

Q:  I know the property went to foreclosure sale and was bought back by the Lender.   I want to buy it?  Who do I contact to make an offer?
A:  If the property reverts back to the lender, the lender will then list the property for sale.   Many times the lender will list the property with a local real estate broker.   In other cases, since the property is actually owned by another institutional investor, it may be handled by one of their entities.   Our office is unable to give out client contact information or process any offers to purchase the property.

Q:  If I can’t buy the property, can I buy the loan?
A:  While our clients sometime do sell their loans, in most cases they will not sell them to individuals.   When a loan is sold it is typically to an established institutional investor.   Any offers to purchase a loan must be made directly to our client.

Q:  I want to contact your client, can you provide me with the number?
A:  Our clients have requested that our office handle all calls and correspondence related to the legal proceeding.   We cannot provide you with their contact information.

Broker

Q:  I’m a mortgage broker and am working with the borrowers, can you provide me with information about their loan?
A:  In order to obtain any information regarding this loan, including a payoff or reinstatement figures, our office will need to be provided with a copy of a written authorization from the borrower agreeing to allow you to receive this information.

Q:  Can I get a list of the borrowers and/or properties that you are foreclosing on?
A:  Our office will not provide this information to you.   Once a foreclosure has been filed in the courthouse, this becomes a matter a public record and you can obtain the information there.

 

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