I had an offer accepted on a house. The "owner" had bought the house cash on the courthouse steps. Five days prior to close the title co. found that the 2nd mortgage holder was not properly notified & the "owner" did not have clear title. I was told this must go throught foreclosure again. The original bank no longer exists, they served papers to someone they thought was the agent of record. His lawyer states he is not. The loan was sold to another bank that has now become a third bank. No one can find record of the loan. The lawyers have been working on this since the end of March. At some point can they declare the paperwork lost? how much longer will this likely take? I love this house & it is an excellent price if I can ever get it. I want to understand the process. Thanks!