Intrtesting Situtation

[by0b]

California.
In 2006 my mortgage was sold to another 3 times. I checked the recorders office recently and all but the last mortgage company recorded a deed of assignment. There is no record of my present mortgager recorded. In 2007 I received a personal loan for a large amount. There was a deed of rents recorded on my property. A year ago, I had a business judgment recorded against me for a large amount. My home is presently upside down in value. If my property were to be forclosed, would the current mortgager need to record a deed prior to foreclosure? Would the deed superceed the earlier recorded deed of rents and the recorded judgment?
What do you think. If I get some good answers, I may need an attorney.

 

[FlyingRon]

You're the mortgager. The bank is the mortgagee.
No additional DEED needs to be recorded to assign a mortgage to another lender. All they need to do is show paperwork showing valid assignment paperwork.

 

[by0b]

Interetesting Situtation

Thanks, it was brought to my attention by a viewer that the signifigance of the recorded deed of assignment is that after a foreclosure, if there are other liens that are recorded properly, they would take priorty in claiming the proceeds from the foreclosure. If this error is brought to the mortgagers attention prior to the foreclosure, they would be less likely to proceed with the foreclose knowing they would lose the proceeds to the recorded liens.