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Attyadvisor
Attyadvisor, Attorney
Category: Real Estate Law
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Experience:  25 years of experience in general practice, real estate law and estate law.
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My original mortgage was originated with First Savings Mortgage

Resolved Question:

My original mortgage was originated with First Savings Mortgage in March 2007. Then GMAC started servicing the loan. I don't recall ever seeing paperwork showing that my loan had been sold to GMAC.

However, now, I'm being told by Ocwen that GMAC sold my loan to them as part of the bankruptcy proceedings filed against GMAC's parent company, Residential Capital, LLC.

The only document I have received from the U.S. Bankruptcy Court advises of a deadline for creditors voting on the plan. I have not received any order from the court advising that my payments should go to GMAC or Ocwen.

On the primary Ocwen website that I had been using it shows the service as having been released on 9/2/2013 and showed the loan having a zero balance. When I called to inquire, they directed me to a new site and told me to sign up. I was required to enter my loan number and on the new site it shows a substantial loan balance.

I have my house listed for sale and have an offer on my house. I'm wondering if they really are the legal holder of my mortgage, at this point?

At closing does Ocwen have the legal right to demand a loan payoff and if not, who has the authority to make that demand; would it be First Savings Mortgage, GMAC, OCWEN or me?

How can I find out who has my loan documents; when I look on the new Ocwen website it says that loan documents are unavailable at this time.

How can I find out who has my deed? Is saying "as assigns," sufficient re: transferring a deed and ownership of the mortgage from one company to another?

My friend, is encouraging me to stop making payments. However, I'm concerned it will affect my credit score. She's wondering if it will, given the circumstances

First Savings Mortgage's and GMAC's names used to appear on my statements. When GMAC started bankruptcy proceedings, they said I still needed to continue making payments, so I did. Then I received notice from GMAC saying Ocwen would now be servicing my loan and to make my payments to them, which I have been.

Thank you!

Most sincerely,
Kate
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Attyadvisor replied 1 year ago.

Welcome and thank you for your question. I will be the professional that will be assisting you.

 

The proper assignment must be recorded or Ocwen has no standing on your loan.

How can I find out who has my loan documents; when I look on the new Ocwen website it says that loan documents are unavailable at this time.

How can I find out who has my deed? Is saying "as assigns," sufficient re: transferring a deed and ownership of the mortgage from one company to another?


You will want to check with the county recorder's office. Which county is your property located in?

Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 3890
Experience: 25 years of experience in general practice, real estate law and estate law.
Attyadvisor and 8 other Real Estate Law Specialists are ready to help you
Customer: replied 1 year ago.

It's located in Wake County. I have my original deed, I'm just wondering if subsequent paperwork should have been filed each time my loan was sold and if I should have received a new deed showing each new lender?

Expert:  Attyadvisor replied 1 year ago.

Sorry for the delay the site kicked me off. Thank you for your patience.

 

 

There would not be a new deed recorded. There must be an assignment of mortgage recorded each time a new lender is assigned the loan. The way to check this is with the recorder of deeds office.

 

This information is available on line through the Wake County Register of Deeds at

http://services.wakegov.com/booksweb/genextsearch.aspx

Customer: replied 1 year ago.

Great! Thank you. I appreciate your help! Hope you have a goodnight.

Expert:  Attyadvisor replied 1 year ago.
You are welcome. If you would be so kind as to rate my service I would be most appreciative.


Thank you for using JA!
Customer: replied 1 year ago.

Sure! Thanks again.

Expert:  Attyadvisor replied 1 year ago.
Thank you.
Customer: replied 1 year ago.

Your most welcome, thank you! I've been searching the Wake County Records and it appears nothing was recorded since I purchased the property in 2007. I'm going downtown tomorrow to get copies of everything. I just signed up for Unlimited Questions, so I may be back in contact for more advice. Thanks again. Leslie! I appreciate your giving me the link to records. That was a big help!

Expert:  Attyadvisor replied 1 year ago.
My pleasure. I am happy that I could help.

Please feel free to use my direct link if you have any additional or new questions for me!

http://www.justanswer.com/law/expert-attorney2/
Customer: replied 1 year ago.

Okay, thanks, I will, Leslie. Hope you have a goodnight! - Kate

Expert:  Attyadvisor replied 1 year ago.
Thanks Kate.

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