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Ask Dimitry Esquire Your Own Question
Dimitry Esquire
Dimitry Esquire, Attorney
Category: Real Estate Law
Satisfied Customers: 41221
Experience:  JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin
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I am the mortgage holder ( legally recorded) property

Customer Question

I am the mortgage holder ( legally recorded) for a property that went in to bankruptcy 20 yrs ago. When the property was auctioned off and sold, my mortgage was missed on the title. I was never paid there was a bank and creditors that received pmt. they had better lawyers so they got paid.
We never pursued any thing since we assumed that we got screwed, moved on.
Now 20 yrs latter the property is in the middle of sale and opps my mortgage was found with title search. They called and asked me to sign off and I told them no I was never paid.
The property is being sold to google for a server farm. I asked what they are selling property for but they wouldn't tell me. They asked If I would sign off for the 154,000.
Seems to good to be true, I called the lawyer that handled the bankruptcy 20 yrs ago and he seemed to think my mortgage is valid.
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Dimitry Esquire replied 2 years ago.
Thank you for your question. Please permit me to assist you with your concerns. I tend to think this mortgage is valid also. Ultimately when someone goes into bankruptcy, all debts must be listed, recorded, and formally discharged. if that does not happen, the debt remains. So if this property remained with the formerly bankrupted party and your mortgage was never discharged, removed, paid off, or taken off via 'quiet title', the full value of the mortgage plus all late fees, penalties, and expenses is yours to collect. You may want to invest into an attorney in this instance--this appears to be valid. Sincerely, ***** *****
Customer: replied 2 years ago.
20 yrs of unpaid interest doubles the amount, wow seems to good to be true
Expert:  Dimitry Esquire replied 2 years ago.
That does not mean that you would get all that, but you can definitely increase the amount they are offering...and that is likely why you want an attorney to double check the title and also what was and what was not recorded. Again, so far it looks very reasonable and very legitimate, but you would want a good attorney to just double-check. Sincerely, ***** *****