How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Dwayne B. Your Own Question
Dwayne B.
Dwayne B., Attorney
Category: Real Estate Law
Satisfied Customers: 32154
Experience:  Began practicing law in 1992
Type Your Real Estate Law Question Here...
Dwayne B. is online now
A new question is answered every 9 seconds

I had a property in NC that was foreclosed on in June 2009,

Customer Question

I had a property in NC that was foreclosed on in June 2009, the bank that had the note was sold in December 2009. There was a 1st and 2nd mortgage. I have heard nothing of this ( in fact it shows as paid off on my credit) until today. I applied for a mortgage, have been approved, and now this 2nd shows up as a mortgage. The address they have doesn't actually belong to a home, and I do not own the home. The bank that bought Amtrust is NY Community bank. My questions:
-can they sue me for this after so much time has gone by
-how do I get it remedied? I have sent tax cards to my current mortgage company to prove I do not own the property
Submitted: 11 days ago.
Category: Real Estate Law
Expert:  Dwayne B. replied 11 days ago.

Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today.

Expert:  Dwayne B. replied 11 days ago.

I am not sure what you are asking when you say "how do I get it remedied"?

How to get what remedied?

Expert:  Dwayne B. replied 11 days ago.

As to the "can they sue me after so much time", NC has a three year statute of limitations. However, some courts interpret that as being three years from the date the last payment should have been made under the contract, others interpret it as three years from the date the foreclosed house was resold, and others will look at it as three years from the date of the default, which would have been in 2009 and therefore they couldn't sue after 2012. Most judges would lean toward the 2012 date as the cutoff for filing a lawsuit against you.

Customer: replied 11 days ago.
Thank you, ***** ***** no idea this was even an open mortgage until my current lender saw it on a merc report, it doesn't show on my credit. Any suggestion to get it off this merc report?
Expert:  Dwayne B. replied 11 days ago.

I'm not familiar with the term "merc report" (we probably just use a different term). What is that?

I may be offline for a little while but if so I'll pick up as soon as I return.

Related Real Estate Law Questions