TITLE REQUIREMENTS FOR TERMINATED PROPERTIES
ILLINOIS
Title 38 CFR 36.4319 requires the holder of a VA guaranteed mortgage to send a copy of every procedural paper filed by or served upon the holder in any legal and/or foreclosure action to VA. These procedural papers are:
TITLE REQUIREMENTS - JUDICIAL FORECLOSURE:
- A copy of notice to the tax collector of VA's address (Department of Veterans Affairs, c/o Countrywide Home Loans, Inc., Attn: Tax Department, SV-24, P.O. Box 10211, Van Nuys, CA, 91410-0211) for future tax bills.
- Certified copy of original recorded Judicial, Sheriff's or Special Commissioner's Deed in the name of "Secretary of Veterans Affairs," showing recordation number (original deed to follow after receipt from the Recorder's office).
- Lis Pendens (showing date recorded).
- Complaint to Foreclosure.
- Judgment of Foreclosure.
- Report of Sale.
- Court-Stamped Order Approving Report of Sale which includes the Order of Possession.
- Assignment of Deficiency Judgment (if required).
- Original Owner's Title Insurance Policy (showing "Secretary of Veterans Affairs" as the insured party).
- Previous Mortgagee's Title Insurance policy (Title evidence at time of loan closing).
- Original Mortgage and Mortgage Note.
- Assignments of Mortgage (establishing chain of mortgagees).
- Plat of Survey (if available).
- Where applicable, Bankruptcy Petition & Discharge, Dismissal Order or order permitting holder to proceed with foreclosure.
TITLE REQUIREMENTS - VOLUNTARY CONVEYANCE
- A copy of notice to the tax collector of VA's address (Department of Veterans Affairs, c/o Countrywide Home Loans, Inc., Attn: Tax Department, SV-24, P.O. Box 10211, Van Nuys, CA, 91410-0211) for future tax bills.
- Certified copy of original recorded Warranty Deed to the "Secretary of Veterans Affairs."
- Unrecorded Mortgage Release.
- Complaint to accept Deed and Estoppel and Solvency Affidavit.
- Original Owner's Title Policy (title commitments will be accepted). Policy will reflect the existing unreleased mortgage and insure the "Secretary of Veterans Affairs" for the dollar amount noted in the approval letter.
- Loan Origination Mortgagee's Title Policy.
- Original Mortgage with all assignments and Original Mortgage Note.
- Bankruptcy Court Order allowing voluntary conveyance, when appropriate.
- Condo or PUD Properties: Homeowners Association (HOA) statement showing all assessments paid through date of conveyance or HOA statement of VA liability from date deed was recorded.
Cook County Torrens Cases:
Cook County Torrens cases are under the same title requirements as any other cases within the Chicago Regional Office jurisdiction.
MAILING ADDRESS: Send all legal documents for properties located in Illinois within 120 days of the foreclosure sale to the following address:
COUNTRYWIDE HOME LOANS
ATTN: VA REO
MS RGV-B-85
2375 N GLENVILLE DRIVE
RICHARDSON, TX 75082
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