Hello I purchase my home 05/2003 from a private party contract for deed private party sold my loan to a mortgage company 06/2005 they in turn sold it again with in 30 days , I have been paying the mortgage company for 6 years I have ask them a dozen time to record my mortgage to homestead my home falling on deaf ears come to find out that my name has never been on the deed and mortgage has never been recorded in the 8 yrs I have been paying , I talk to the mortgage company and found out they have no papers sign by me stating I have a mortgage with them that's why they can record the mortgage is there any legal action I can take since I have been paying them for 8 yrs and no one ever recorded my mortgage but sold my home 2 times
Don't worry about the mortgage right now. It's more important that you make sure the deed gets recorded immediately. Who handled the closing for you when you purchased the property? Who has the original deed right now? Find that deed and get it recorded now. Then you can deal with the mortgage.
You said you originally purchased the property under a contract for deed. Generally, with a contract for deed, you do not own the property until the contract is paid. So what you have may not be a mortgage. The seller may have simply contracted with the lender to service the contract.
So my first question is who currently holds the title? If it is the seller, you need to find out the terms of his contract with the lender. Also what were the terms of your contract? How long do you have to pay before the contract is complete?
I am no longer paying the private party and my deed was transferred two time's to two different lender's it show's that my property has been sold two time's since i purchase the home contract for deed now the lender is telling they have no paper work stating i should be paying them, i'm also asking about recording a mortgage when a mortgage company is reporting to the credit rating company's they are not servicing my loan they have told me they are my mortgage company and they are on the deed & taxes that i pay for each month how long do they have to record my mortgage,, also 0n 06/2009 they did a modification of a mortgage i never had with them ?
First, please don't type in all caps, its considered shouting.
Second, several things don't make sense here. Deeds are NOT transferred to lenders. A Lender may place a lien on a property, but they don't become the owner of the property unless they foreclose. What I'm wondering is whether the seller's lender foreclosed on him and took over the property. But you should have been informed about that.
Again, you NEED to learn who holds title to the property now. You can get that information by going to the local County Clerk's office or recorder of deeds. That is your first step.
The next step is to read your original contract and see what it says.
I already had this checked and my mortgage company is on the deed, title, taxes don't understand why I am not getting the answer to my question, again if the mortgage company has not recorded my mortgage how long do they have to do so its has been 6+ years and if I am paying them don't they have to record my so called mortgage ? And if it is not recorded do they have the right to collect payment ? Also my deed was transferred 2 times,, and my property was sold two times in 2005 while I already owned the property
I never signed not one piece of paper with the lender and in 2005 I received a welcome letter from them telling me everything will remind the same
... again if the mortgage company has not recorded my mortgage how long do they have to do so its has been 6+ years and if i am paying them don't they have to record my so called mortgage ?
Is it a mortgage or not? If it is, no, they don't have to record it for you to be obligated to pay it.
Originally Posted by JMN1262
... and if it is not recorded do they have the right to collect payment ? ...
Originally Posted by JMN1262
... also my deed was transferred 2 times ,,, and my property was sold two times in 2005 while i already owned the property
i never signed not one piece of paper with the lender and in 2005 i received a welcome letter from them telling me everything will remind the same
Title was transferred by whom? If you have title, subject to a mortgage, you would be the only one who could have sold it.
I suspect that you aren't understanding what legal position you are in. You need to show your paperwork to an attorney and have him or her explain it to you.
Title was transferred by whom? In 2005 the private party sold and transferred deed to the first mortgage company within 30 days it was sold to my current mortgage company and the first company sold and transferred deed to my current mortgage company and they are the one's calling it a mortgage and reporting to credit rating company (( and I purchase the property in 2003 is it legal to sell property you already have a contract on ?))
((AK lawyer)) I have explain this to and Attorney and before we hung up the phone he ask me do you want the house free and clear or my money back, I'm just trying to do my home work before I rush into see and Attorney
((ScottGem)) I did read my contract and it is one page brake down of down payment monthly payment taxes and insurance escrow and 30 year fixed rate and property decryption and signatures & notary stamps
And why is recording the mortgage not important ? But it is to bank and finance ? They are wanting me to complete a form so they can impose a fine ?
The recording of the mortgage isn't as important as the deed. From what you've said here it sounds like you're still under a contract for deed which means that ownership will not be transferred to you until you've completed all of the payments.
It's possible that the previous owner transferred ownership of the property to the lender who held the mortgage at that time, but that the transfer was subject to the conditions of your contract. Lenders often transfer loans and it sounds like each time it was transferred subject to your contract. So most likely you still have an interest in the property, and you are still required to make the payments, and you will probably receive a deed from the current owner, whoever or whatever that may be, when you complete the terms of the contract.
All of this is a guess based on what you've said here and you should not rely on any of it. When you've met with an attorney in your area and they've had the opportunity to review all of the paperwork they'll be able to tell you exactly what you have and what you're entitled to.
LisaB4657 ; Thanks for the reply but I know its contract for deed what I was asking is about the recording of the mortgage now my property is showing with a dollar amount that my property has been sold two times after I had purchase the property I talk to the mortgage company and they said they have NO paper work on me ever signing anything but I do, I talk to an Attorney and before we hung up he ask me if I want my home free and clear or my money back and as I stated I'm just trying to do some home work before I enter this long battle and pay and Attorney for doing nothing that I could have done with a little advice, Thank you for your time everyone
I did read my contract and it is one page brake down of down payment monthly payment taxes and insurance escrow and 30 year fixed rate and property decryption and signatures & notary stamps
Nothing else,, I signed nothing with the mortgage company only the private party in 05/2003
I don't understand how they can collect any money from me if they don't even have the original paper work (( contract from the private party)) the mortgage company is telling me they have No paper work on me but I have been paying them for 6+ years just from a Welcome letter and they re modified my mortgage on 06/2009 and I don't understand how they did that with No original signed Documents, I never had a mortgage with this lender I never signed anything other then A modification on 05/2009 nothing else
Unfortunately neither you nor anyone here knows the status of the ownership of the property. We're not going to be able to give you any more definitive of an answer than what you've already gotten. The attorney you'll be seeing will be in a position to determine the ownership and the status of the mortgage.
In a contract for deed there is no mortgage to transfer. The deed is keep in the sellers name till the property is sold.
So the deed would not be in your name. If the seller, sold it to the bank? Or did you take out a loan to pay off the seller.
What you are saying, just can't happen, it does not work that way. It sounds like the seller did something wrong.
But of course you would have the contracts and they can not change or alter them without you signing new ones.
You are obligated to pay the seller, not any mortgage, the seller pays his mortgage, you only pay the seller.
Next the lender is not on the deed, but a loan can be recorded
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