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mrsbackcharger · Joined: 30 Aug 2010 Posts: 1 1.62 Dollars($)

I have a home located in florida. My 1st mortgage has approved the short sale on the home and wants the deal closed in less than 20 days. I thought I had a second mortgage on the home but they never recorded it. It is to my understanding that we will close the deal without them due to them not recording the deal with the court. Can they go after me as if it were a personal loan? They cant put a lein on the property due to the fact that the house would have been sold by the time they find out what happened. Am I correct?

I have not mentioned this non recording to the second mortgage company and they are saying that this was a personal loan, yet the paperwork does not show it being a personal loan, it shows it being a 2nd mortgage. Can they get into trouble for presenting this loan as a mortgage and then changing it to a personal loan? Would that be why they never recorded it?

smithsussane · Posted: Mon Aug 30, 2010 10:27 pm Post subject:

Hi mrsbackcharger!

Welcome to forums!

If the second loan has not been recorded, then the lender cannot come after you for the dues. In order to go after you for a personal loan, still the lender will have to record the loan. However, if there are documents mentioning it as your second mortgage, then you will be liable for the payments.

Sussane

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Can a second lender go after their money if the 2nd mortgage was not recorded and the house has been sold under short sale?

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