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Ask Tina Your Own Question
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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If my mortgage company doesn't have the right address of

Customer Question

If my mortgage company doesn't have the right address of where I live and pay my mortgage on, can they still claim the owed balance?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Loren replied 1 year ago.

Good morning. I am Loren, a licensed attorney, and I look forward to assisting you.

Customer: replied 1 year ago.
Good morning Loren.
Expert:  Loren replied 1 year ago.

Are you asking if the if the repayment obligation is void if there is a typo in the address of the property? Is the legal description correct? How old is the loan?

Customer: replied 1 year ago.
I just need an answer for my question. Don't want a live call at present. Can you answer my question please
Customer: replied 1 year ago.
since 2004. yes typo in the address. There are 3 homes with the same number accept its a b c with the numbers. mine only has the number with the mortgage company.
Expert:  Loren replied 1 year ago.

Ok. Assuming the legal description is correct, the mortgage is valid. The legal description of the property is what is important, not the common address.

Additionally, even if the mortgage was voidable, it would not, necessarily, affect the obligation in the note. It would only affect the lender's right to foreclose on the collateral.

The borrower would still be personally liable for the repayment obligation in the note.

Expert:  Loren replied 1 year ago.

Just noticed this is a Canadian question posted in a US category. I will opt out so a Canadian expert can help you.

Do not respond to this message or it will delay a Canadian expert being able to post.

Customer: replied 1 year ago.
this is from US.
Expert:  MIAMILAW1127 replied 1 year ago.

Hello. Thank you for contacting me. I am a consultant here and I am looking forward to assisting you with your question. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Please be patient as I will be typing my responses to you from scratch. Also, I can only answer/address the questions you ask specifically based on the information your provide. Please try to provide as much information as possible so I can best assist you.

Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

The short answer is yes. As long as the legal description of the property is correct, then they will be able to collect on the debt.

Also, as stated, just because the actual mortgage is incorrect and is invalidated, that does not automatically invalidate the note. The lender would just technically have an unsecured note because it would no longer be secured by the property so they won't be able to foreclose on you and take the property if you default.

I hope this helps. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Thank you.