Home Buying in Chestnut Hill>Question Details

Tracey, Home Owner in Millersville, PA

does anyone know anything about chain of title and what happens if that is broken?

Asked by Tracey, Millersville, PA Fri Jan 7, 2011

I have an issue with our mortgage company with who holds title to the property and other issues concerning mortgage modification.

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Ok, so the whole issue of robo-signing is being decided in the courts right now. If you haven't seen the news, the MA Supreme Court ruled on this and it is expected to deal a blow to the banks. See article here: http://www.cnbc.com/id/40969556. Since you don't have a sale or foreclosure imminent, you should talk to a professional and seek the best course of action. Good luck.
0 votes Thank Flag Link Sat Jan 8, 2011
We asked for proof of title to our property since our current mortgage company purchased our mortgage in 2009, we have had many issues with them. The mortgage company sent us what they claimed to be proof of deed /title when compared to the original paper work that we acquired from the Lancaster county court house there are several discrepancies signatures don't match dates are missing on their copy. We believe the title to be missing or destroyed when all this robo signing and other shenanigans took place. What happens now is my question if we want to sell the property or by some stroke of luck would be able to pay off the mortgage how would we have proof of ownership. I don't trust this bank and they have not recorded a payment since the modification. Lots of problems.
0 votes Thank Flag Link Sat Jan 8, 2011
just curiuos was it nationstar? we are in lancaster also and having simular problems
Flag Tue Sep 4, 2012
I deal with title issues all the time in my practice. It depends on the nature of the break. Can you provide any details as to the situation and exactly what the problem is? If there is some minor defect, it can often be remedied with documentation. If the break or cloud on title is more serious, it may require a court action (quiet title) to fix it.
0 votes Thank Flag Link Fri Jan 7, 2011
Well, it depends. In cases involving mortgage modification and foreclosure, they're just starting to figure things out. Some people are going to see the courts rule one way, others, another.

On a regular purchase, the gap may or may not cause the title to be unmarketable - a title insurance company might want to make the gap an "exclusion," and the lender might not want to fund a property with that sort of exclusion.
0 votes Thank Flag Link Fri Jan 7, 2011
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