By the simple expedient of demanding the lender produce the original mortgage document.
Often, very often, the original paperwork has been filed away in some dusty warehouse in a far-away place that burnt down in 1978. Or was mistakenly sent to some bank in Andorra. Or misfiled. Or eaten by a dog.
Outstanding.
A fellow I know; after trying to get a second mortgage on his house found out the lender had lost the first mortgage note. Immediately, they sent out *new* documents for him to sign to cover the loss of the old ones. JUST sign right here!!
Why worry..The Obamasmessieh is gonna pay all our mortgages for us and fill my oil tank....All we need to do is go to one of his events and touch the hem of his garment like that woman did and presto , all is taken care of...LOL.....That was a joke for those that take all posts seriously....LOL....
The news showed a couple of families that are hoping for help. Of course we don't know all the detail, but one bought a house with an interest only mortgage and after four years has negative equity. She thought the house was too big, but they bought anyway. The other was crying that they've been in the house for 18 years and will lose it. My god, after 18 years is should be well past half paid if they don't use it as a piggy bank and keep borrowing against the equity.
Many of these people should be let go and placed into a two room tenement for the fiscally stooopid. .
Hmmm... I thought was government was *buying* all the houses and letting us continue to live in them as long as we are right-thinking. Pretty soon the government will own everything and we'll all work for the government. The jobs program is mainly schoolteachers and cops--people who control our lives and thinking. California is making it more and more difficult to own a car but once we are all living in our tight little well-controlled communities we won't need them. Not having cars will force us into them.
This is NOT a joke ;-)
Because the Coronation, costs a plenty. Wait your turn.
!!well SOMETHING MUST BE DONE TO STOP HOME PRICE FREE FALL!!!!
I advocate 1% mortages for ANYONE who cares for one. Refinance those underwater too. existing companies service the mortage for the 1%
Depending on your condition the Feds get a share of your home sale profit when you finally sell.
way too many used homes as banks or more desciptevly as money machines..
yeah it was stupid and intelligent people knew it was wrong but geez everyone was making so much money
Usually, the deed of trust, etc. are filed at the local courthouse. IOW: the "original" is on file in the courthouse.
Yup, that defense probably wouldn't last long here. They are on a PDF on the court clerk's web site in Lee County ... assuming they actually filed the mortgage downtown when they changed the deed. I assume the title company does that at closing. It is their job. Most big national builders had their own in house title company and mortgage company so it would all be done at the same time. You might catch a small FSBO company tho if they weren't doing their due diligence..
HomeOwnersHub website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.