Deed transfer timing with foreclosure on FHA loan QUESTION

[howtogetout]

---

I have an FHA LOAN serviced by BOA, i have heard of instances where the servicer may foreclose but neglect (for some time) the transfer of title to the property.

Is the servicer bound to transfer title in a timley manner (how long) when the loan is FHA?

[Evan Bedard]

Is the servicer bound to transfer title in a timley manner (how long) when the loan is FHA?

You are referring to transferring the title once the foreclosure is complete correct?

[howtogetout]

You are referring to transferring the title once the foreclosure is complete correct?

Yes I am talking about the bank (servicer) foreclosing but not transfering title for many moons. In the case of an FHA loan are they required to transfer the title in a specified time after foreclosure? This would also apply to Bankrupcy when title is surendered and it is an FHA loan. In otherwords, since it is an FHA, would it be less likley that it could remain in my name for a long time?

[Evan Bedard]

Having an FHA loan should not make a difference as to how long it takes the servicer to transfer the title once the foreclosure is complete. Generally, it will take about 10+ days for the new deed to be recorded once the auction is complete and you can verify this through your county recorder's office or website.

[howtogetout]

Having an FHA loan should not make a difference as to how long it takes the servicer to transfer the title once the foreclosure is complete. Generally, it will take about 10+ days for the new deed to be recorded once the auction is complete and you can verify this through your county recorder's office or website.

Evan, I see MANY REFERENCES HERE for folks that have been foreclosed on and find out mant MONTHS LATER that the deed is still showing in their names. I would think FHA would impose a time that the deed must be transfered so HUD can market the property after the claim has been filed.

[Evan Bedard]

That is true it can definitely be much longer than that for it to be completed, but generally the new owner should file the deed after ten days from the sale. This is no law from my understanding and that is why sometimes it does not happen for months after the sale. Here check out the thread below, I believe CalGirl had an FHA mortgage and her deed was transferred exactly 11 days after the Sheriff's sale.

How long after foreclosure for deed to transfer out of our name