Somebody owns the paper on this house and he will be finding out who before long in the form of lawsuits and he will not be able to afford the legal fees.
The mortgage company went bankrupt.
Likely the debtors of the mortgage company will eventually be awarded the assets including the title to this property.
But if there are enough debtors and properties involved, it might take more than three years before that get resolved.
It may not be possible to find who ‘holds the paper’ on the home. During the foreclosure fiasco last year when there was a temporary hold on foreclosures in some states - it was shown that one reason for such a hold was that it was impossible to show who ‘holds the paper’ as some mortgage companies and mortgage security companies had gone belly up - the computer and paper records could not be located and may not even exist - destroyed. And in a number of cases the company servicing the mortgage had no clear documentation to show that they had the right to service the mortgage.