My question involves real estate located in the State of: Oregon.
We are in the process of purchasing a home. The home is a Fannie May owned foreclosure. Everything has gone smoothly in the process until now. We are set to sign on Wednesday and get the keys on Friday. However, the title company just discovered that the deed was not recorded properly. The former owners filed a deed in lieu of foreclosure, and turned over the home, but the owners and CitiMortgage are still listed on the deed instead of Fanny May. The preliminary title report showed Federal National Mortgage Association as the owner/seller, but the deed does not. So...now we are waiting for City Mortgage to fix the situation. Meanwhile, we have already rented out our current home and the renters are moving in next week. If this issue isn't resolved in time to get the the keys on Friday, we will be homeless while we wait. Any ideas how long this could take? Is someone legally liable to pay for lodging for us? Who is at fault here? Thank you in advance for any advice or information.