Does it do any good to demand a signed copy of my mortgage documents?

Question

I'm behind on my mortgage payments, and could be facing foreclosure. I am not confident at all in the loan mod process, and it appears the banks like BOA (mine) are granting few modification despite getting bailed out.

So, some friend have suggested I try to find out exactly where my signed documents for my first and 2nd mortgage are. My loan was originated with a builder, then sold to countrywide, then sold to bank of america. Thanks much for any help, and I obviously don't have money to hire an attorney.

Answer 1

You are given your copy at closing, not after.



They don't need the original signed copies to foreclose, you have their money and you are refusing to repay it.

Answer 2

The policy followed by most attorneys is to require the lender to show proof they own the note even before they raise any credible defense. I would strongly recommend that you try to secure an attorney to help you. If you are short on funds you should consider renting out the property and staying with family or friends, or finding a couple room mates. This may help you to raise some cash to pay the attorney.



Whatever your decision please make it quickly. You are required to file an answer to the foreclosure complaint. Failure to do so timely will further limit your rights. In addition, state statutes vary from state to state and you need to learn about the foreclosure laws in your state so that you can make the right decisions. To learn about the laws in your state click the link below then select your state.

http://www.worldclassmemberservices.com/ForeclosureLaws.html

Answer 3

If you are not making payments the lender can and will foreclose on you. There was a TV documentary several months ago that gave misleading information beating the foreclosure game. It is not a game and if you do not perform as outlined in your contract you will lose.

Answer 4

You need to contact the builder if you remember who it was. You also need to contact your mortgage company. Although you should've received copies of all loan documents when you first signed them.

Answer 5

The documents are supposed to be with you. It is your responsibility to hold on to those documents. Your escrow and loan companies would have provided you with copies of everything. Highly doubtful they didn't.