1st and 2nd with ownit mortgage who forcloses?

connellyrobinson · Joined: 23 Mar 2008 Posts: 4 2.37 Dollars($)

I have a 1st and 2nd mortgage with ownit mortgage solutions. Can the servicing company forclose due to the fact that ownit is under bankruptcy and they closed their doors last year? Who now owns the note? How do I find out about that?

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi connellyrobinson,

As you have filed Bankruptcy I think they cannot foreclose it now. which bk have you filed chapter 13 or chapter 7 ?

connellyrobinson · Joined: 23 Mar 2008 Posts: 4 2.37 Dollars($)

larry,
I didn't file bankruptcy, my mortgage company did. Ownit mortgage Solutions. They closed their doors last year. I don't think that they are out of bankruptcy yet. That is the company that was involved with Merrill Lynch. My question is: can the servicing company forclose? Even during bankruptcy?

Samantha

Hi Connellyrobinson,

Welcome to our forums.

If Ownit Mortgage Solutions is in bankruptcy, and have given the servicing rights to some other company, then the servicing company can foreclose if required. This is because the servicing company has not filed bankruptcy.

Are you in mortgage problems and do you anticipate a foreclosure? feel free to discuss your problems here, so that you avoid foreclosure.

Hope this helps...

God bless you.

Samantha

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