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TJ, Esq.
TJ, Esq., Attorney
Category: Real Estate Law
Satisfied Customers: 12357
Experience:  JD, MBA
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I would like to know how is that a lender can sell your

Customer Question

hello i would like to know how is that a lender can sell your mortgage to somebody els and the law firm can still foreclose on your house, if that lender is no longer your lender how can a new lawer come and start off were the old lender started off from
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  TJ, Esq. replied 1 year ago.

Hello and thank you for the opportunity to assist you. My name is ***** ***** I will do my very best to help if I can. Please bear with me a few moments while I review your question, conduct any necessary research, and type a response. Thank you.

Customer: replied 1 year ago.
tj you there
Expert:  TJ, Esq. replied 1 year ago.

Hello again. Yes, I'm here. I'm typing a response for you.

Customer: replied 1 year ago.
ok do you have any anwsers yet
Expert:  TJ, Esq. replied 1 year ago.

Hello again. Thanks for your patience.

Q: i would like to know how is that a lender can sell your mortgage to somebody els and the law firm can still foreclose on your house, if that lender is no longer your lender how can a new lawer come and start off were the old lender started off from

A: Obviously I don't know the facts in your specific case, but most likely the servicer changed, while the secured party did not. To clarify: In most cases, there are two entities (I'll just call them "banks" for convenience in this answer) involved in mortgages. The first bank is the secured party. This is the bank that owns the loan. The second bank is the servicer. This is the bank that manages your account, collects payments, etc. In most cases, when you get notice that the mortgage was transferred, etc., what it really means is that the servicer has changed. The secured party is likely the same as always. In that situation, the foreclosure can continue onward without too much of a delay because all it means is that the bank that was managing the account has changed. The secured party (i.e., the bank that will get the money from the foreclosure sale) is the same.

Does that answer your question? I hope that I explained that clearly. Please let me know if you need clarification, as I am happy to continue helping you until you are satisfied.

Customer: replied 1 year ago.
ok what about the other things i wrote down about the mortgage fraud that is going on
Expert:  TJ, Esq. replied 1 year ago.

Hi again.

If you can prove that you are the victim of mortgage fraud, then you certainly would have a case against the perpetrator of the fraud. My suggestion would be to retain a local attorney who can send a demand letter to the perpetrator, and then sue if the demand for money damages is not met. The fraud may also be a valid defense against a foreclosure, depending on the facts.

As for the robo-signing, if you can prove that, then it would also likely be a defense to the foreclosure, though only temporarily. The robo-signing would have to be corrected, and then foreclosure may start again with fresh documents.

I hope that helps. Please let me know if you need further clarification, and please remember to provide positive feedback via the stars. Thank you.

Expert:  TJ, Esq. replied 1 year ago.

Hello again. I didn't hear back from you, so I'm just checking in to make sure that you don't need more help on this issue. If not, then please remember to provide a positive rating via the stars (and note that your positive rating is the only way that I'll get credit for helping you, so I greatly appreciate it). Thank you!