Basically correct. Debtor signed note and mortgage to a bank. Bank failed and FDIC sold/assigned the note & mtg to CFS. CFS auctioned off the notes and I (FFI) bought the note. CFS never assigned the mtg to FFI, then went BKR. Oil production comp. won't turn over the oil money owed to FFI because we aren't shown as the mtg owner at the county recorders office. So do I have to file suit against CFS, that no longer exists, or how do I foreclose the security--against whom? Or, should I try to go to the bankruptcy court and get them to authorize CFS former President to sign over the assignment of mortgage, or possibly the BKR court would sign off on it.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).