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fliinhi123
Guest
this is from the state of nevada. I bought a home from a distressed homeownerer in March of 2001. I was told that there was a first and a second mortgage. A title check revealed the first and what I thought was the second. I sold the property on an All-Inclusive Deed of Trust and when I went to verify the recording information on the second, I discovered that I had originally looked at a different second (I just checked by owner's name, someone with the same name had a second on a different property) On further inquiry, I discovered that the second on my property had never been recorded (at least in Clark County Nevada). I contacted the second holder and requested recording information. I was told that it would take about 3 weeks. This has been a 6 weeks ago. They can not produce the Deed of Trust or a recorded assignment. I contact the original maker of the second, and they couldn't even find the original file in the archives. By the way, the homeowner had made payments on the second and was current to the original maker and the company that bought the second. I had, in fact, made payment myself, believing that the second was legitamate. My question, if the second has not been recorded (the deed transferring ownership to me has been), what recourse does the original maker have to attempt to collect the loan. FYI - The original maker know is aware of all of this and is filing Bankruptcy. He intends to add this to his list of unsecured creditors. E-mail me if you have any additional questions. Thank You.