QUESTION
I have a warranted deed and the mortgage was never notarized or recorded and I don’t have a copy of the mortgage can she foreclose if I stop paying?
Asked on May 08th, 2013 on Foreclosures - California
4 ANSWERS
You are a classic example of old a fraud that is happening in the banking industry you should consult with a foreclosure defense specialist and you will much probably be able to knock down a substantial amount of your principal interest.
Answered on May 10th, 2013 at 9:42 AM
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It's unclear from your question who "she" is. So I can't answer the question. If "she" holds a mortgage on the property, there are certain things that need to be done to make it effective. You should consult with an experienced attorney and bring the documents for review.
Answered on May 10th, 2013 at 6:32 AM
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In California, if the mortgage was not recorded, the lender can still bring an action for an equitable lien, which can then be foreclosed. But that would require the lender to file a lawsuit and get a judgment declaring the existence of the lien before it could foreclose, a process that could take as much as a year or two.
Answered on May 10th, 2013 at 5:02 AM