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my mortgage was not recorded with town cleck

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Tamara Guest	Posted: Thu May 05, 2011 8:27 am    Post subject: my mortgage was not recorded with town cleck Like 0 Dislike 0 I have a question, what happens if your mortgage was never recorded with the county? During a title search, I found out that my mortgage was paid off(when I refinanced a few years ago), and no records of my current mortgage were found. Now I need to refi again and the bank that has my current mortgage BoA is telling me that my mortgage was never recorded but my loan does exits, which I have been paying for the past 6 yrs. Countrywide had my original loan them it was transfered to BoA. BoA does not has a copy of my mortgage papers. Surely they are taking my payments every month. Should I stop paying my loan to them? What should I do? Can someone explain to me what are my rights in this situatuion? All I wanted to do was to refi and I encoutered this problem. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
chrisgummerson Community Expert Joined: 29 Apr 2010 Posts: 704 Location: La Palma, CA 9.98 Dollars($)	Posted: Thu May 05, 2011 8:55 am    Post subject: Like 0 Dislike 0 What state are you located in? _________________ Chris Gummerson Bay Valley Mortgage Group bayvalleymortgage.com 714-367-5125
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Thu May 05, 2011 9:01 pm    Post subject: Like 0 Dislike 0 Welcome Tamara, If your mortgage is not recorded, then legally you're not liable to pay off the mortgage. The mortgage is recorded as paid off. So, legally you own the property free and clear. You can stop paying the loan. However, you can even have a word with a real estate attorney and take his opinion before stopping the payments. _________________ Procrastination is the enemy of your financial success
Tamae Guest	Posted: Tue May 10, 2011 1:46 pm    Post subject: Like 0 Dislike 0 Located in New york _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant

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