Where do we go from here?

[Marsali]

What is the name of your state? Texas


Here is the delimma: We can't discern exactly who has the loan to the house.

Prior to our marriage, my husband purchased our home in 1994. He continued making payments until 1997 when a check was returned by the bank with a notation stating "We no longer have your loan". It had been sold, for the fourth or fifth time, to another company and my husband was instructed that a letter would be arriving that detailed the new payment arrangements. After three weeks passed the letter never arrived. He contacted the bank and they provided him with the name of the new company as well as their phone number. When he called to ask about where to send his payments he was told by that particular company that they didn't have his loan either, to refer to the previous company. It was at this point that the run-around began.

We have spent months and months, spending hours on the phone backtracking thru all of the various lenders/companies that supposedly held the loan to the house - and there are quite a few of them - and noone can tell us what happened to it or who has it currently. It seems as if it's completely disappeared and no record of it can be found aside from the original Deed of Trust and documents filed with the county at the time of the sale. There has been no demand for payment, no notification of forclosure or any contact regarding the mortgage whatsoever since 1997. While everyone asks us "And this is a problem.....why?" they fail to realize that since noone seems to be able to find the loan, we can't obtain a "free and clear" notation on the property and this prevents us from selling the property or obtaining a home improvement loan.

We're caught in limbo and any legal advice is welcomed.

[Russ69]

Depending on you state certain laws apply, Did you do a title search to see holds the lien?? Have you made any payment since 1997 on your mortgage??? Sounds really confusing. My best advice is you visit [url]www.mortgage101.com[/url] or [url]www.freefromyourdebt.com[/url] You will find both of these site to hanve numerous mortgage related resources. To get a home improvement loan a mortgage broker may provide the insight you need to move forward. Since they deal with title companies, credit bereaus and attorneys you may be able to get some free advice. I had a problem with my title in a trust but the company that refinanced my loan cleared that matter up. Good LUCK!! I know it is a long and difficult process to get a new mortgage. At least going thru the refrence you will be assured tons of free mortgage info.

Russ

[GaAtty]

Get a title searcher, which will not cost you much.