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Sanfordsinger, Home Buyer in Eden Prairie, MN

My deed in lieu is at a standstill.

Asked by Sanfordsinger, Eden Prairie, MN Mon Feb 10, 2014

My deed in lieu is at a standstill. The primary lender (1st mortgage) paid off the 2nd mortgage lender and now 2nd mortgage lender can't find the assignment of mortgage to give a lien release. Title still says the 2nd mortgage is the original lender, Argent. Argent is out of business. The loan was sold off 3 times after Argent. The 2nd mortgage loan went from Argent to Wilshire to BOA (by acquisition of the company) and finally to Greentree who has now been paid. They told me that if they can't find the assignment of mortgage, they can do a "lost assignment of mortgage". What can be done?

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2
You might want to call an Attorney. Short story...A friend of mine actually got his mortgage paid off by his lender and handed him a Deed of Reconveyance and Grant Deed because it was discovered that the lender didn't follow procedures regarding the transfer of servicing through MERS. Without trying to sound like an Attorney, the quick explanation is the previous lender lost the track of the Note, and key documents therefore couldn't foreclose. That's way there are properties out there that haven't foreclosed after years and year of being in default. There are Attorney's that specialize in Real Estate Law. It might pay to contact one and seek some legal advise.

Best of Luck!
1 vote Thank Flag Link Mon Feb 10, 2014
Agreed if you would like I can forward you some contact info for a RE attorney.

~Chris
651-307-7663
chrisblock@thebridgerealty.com
0 votes Thank Flag Link Tue Feb 11, 2014
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