Interesting Call

I have my mind right in the middle of work, when my cell phone beeps to tell me someone is calling. I look and it's a number I've never seen before, so I let the voicemail pick it up. At lunch, I listen to the message - at least, I try to listen to the message. The person who is leaving the message is obviously getting their information from someone else standing next to them. I could tell this because they are talking in short blasts of sentences - plus, I could hear another voice relaying the information. However, the person leaving the message also has a very strong Texas drawl, so it makes it twice as hard to understand.

They didn't leave much info aside from a name, address, and return number (which is the same as on my caller id). Based on that info, though, I managed to look up some info on the internet. The only legal info I could find was the person in question bought the property in 1995 for $37,800. Interestingly enough, on the same exact date, the Grantor had released another lien on the property from someone else. That Deed of Trust was set in 1988 for $42,500. This is a little puzzling. The only thing I could think of is the owner in 1988 sold it to someone with a note for $42,500. In 1995, that new owner either defaulted or gave up his rights to someone else, so the Grantor of the first Deed of Trust released that person and created a new Deed of Trust for the current owner. If that is the case, and the new owner just took over the terms, the original terms would probably had been $42,500 loan @5.5% for 30 years. If so, the current balance would be about $27,250. This is all speculation on my end, of course. Also interesting is that the holder of the lien transferred/assigned the Deed of Trust in 1997 to a financial company.

Now for the real kicker ... I did some Google searches on the property's address AND the fact the current owner created a DBA company a few years back, and came up with the place being an Inn. Appraisal records show two entries for the property: one being a Residential Mobile Home and land (appraised at $40,899), and the other being Real/Commercial (appraised at $62,381).

A lot of confusion I hope I can clear-up when I get home tonight and call the seller back. My wish is that (1) the property he called about comprises of BOTH apprasial records, (2) the property's value is close to the total appraisal value ($103,000), (3) the loan balance is what I think it is (~$27k), and (4) he is willing to just deed me the property with my assurance I'll continue paying the loan off. How's that for wishful thinking! :-)