My question involves real estate located in the State of: Missouri
I am thinking on relocating. I found a foreclosed property that I am interested in. After inquiring about the home I found that here was a problem. There had been a lien on the mobile home and the land. The foreclosure was supposed to take care of removing the lien and giving the foreclosure company clear title, however, the paper title to the mobile home cannot be found, still shows up with the Department of Revenue as being in the previous owners name with a lien to a mortgage company that no one knows where or how to find. The current owner, Freddie Mac, says they are selling the land only, which they have clear title to. The mobile home is part of the deal, "at your own risk."
If I buy the place what is the worst case scenario?
Any suggestions as to how to resolve the title problem?