Posted on: 05th Oct, 2009 10:38 am
a property is going into foreclosure. the note was lost and the mortgage was signed by a person (in their name) that wasnt the borrower and their is no leagle power of atterney. the real owner doesnt have their name signed on any bank documents. Also the leagle owner of the property has never personally made a payment to the lender.does this slow down the forcloser? the property is in florida...
very interesting case.
you need to contact attorney for legal help. Who is paying mortgage till now? is there any relationship between owner & actual payer?
So may questions ...
you need to contact attorney for legal help. Who is paying mortgage till now? is there any relationship between owner & actual payer?
So may questions ...
her son was paying diffrent last name and mailing address
Hi kudo,
The person whose name is mentioned on the property deed will have to sign over the property documents to the new buyer of the property at the foreclosure sale. Though the legal owner of the property did not make any mortgage payments, it was made on his/her behalf by someone else. As the lender holds the lien on the property, he has all the right to foreclose the property. As Lee has suggested, you can contact an attorney and take his opinion in this regard.
Thanks
The person whose name is mentioned on the property deed will have to sign over the property documents to the new buyer of the property at the foreclosure sale. Though the legal owner of the property did not make any mortgage payments, it was made on his/her behalf by someone else. As the lender holds the lien on the property, he has all the right to foreclose the property. As Lee has suggested, you can contact an attorney and take his opinion in this regard.
Thanks