For starters, it's important to note the difference between a mortgage and a title. A property title and a mortgage are not interchangeable terms.
Ask the representative for the name of the company that owns your mortgage. The representative may tell you that the same company who services your loan owns it as well. This is somewhat rare, however. It’s more likely that the representative will tell you that a different company or entity owns your note.
"In hundreds of thousands of cases," wrote Gandel, "the promissory note that proves a bank owns a borrower mortgage is now gone. Vanished." Foreclosure and Legal Actions. Ask the representative for the name of the company that owns your mortgage. The representative may tell you that the same company who services your loan owns it as well.
When they continually sell your note over and over again, no one knows who owns it. But it doesn’t stop there. From the trust to other trust, to debt buyers, the note is sold multiple times. So whats happened with the mortgage crises is that no one, not even the bank knows who owns the note!
. and other details of the loan, and the buyer gives the seller a promissory note agreeing to these terms. The promissory note is generally entered in the public.
Wicker World 6 Steps to Prepare Your Finances for a Mortgage Mortgage Masters Group Getting a mortgage loan involves several stages and you need to pass through all these stages to realize the dream of homeownership. Here are some of the most important steps to applying for a mortgage at a lender. understand mortgage: learning is the first step to execution.
Since the claimant, Citibank, has not established that it is the owner of the promissory note secured by the trust deed, Citibank is unable to.
basis pressurize However, there is the real probability of near-term downside, which will pressurize equity valuations. rdc has a fleet of 31 mobile high spec jack-ups. On a geographic basis, the company has.
If nobody owns your mortgage note then you are in luck Posted by Lance Wiggs July 28, 2008 July 29, 2008 120 Comments on If nobody owns your mortgage note then you are in luck It seemed like a great idea at the time.
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Who owns our Note was a bit irrelevant until 2009 when we tried to get refinancing or modification of our mortgage. By this time Bank of America (BAC) had bought out the corrupt floundering carcass of Countrywide and assumed the servicing of our mortgage.