If the Mortgage co doesnt file any paper work with the county of deeds do you own the house free and clear?

Asked over 1 year ago - Allen Park, MI

I have bought my house in 2006 and had gmac as the lender in 2009 I refinanced with the mortgage being sold to Bank of America and records shows at wayne co reg of deeds that the orignal mortg was discharged and the new was never recorded.

Attorney answers (5)

  1. Patrick R. Drueke

    Contributor Level 5


    Lawyers agree

    Answered . I would be surprised if your mortgage company does not record your mortgage. Regardless you will still owe them the amount you borrowed pursuant to the Notecypu signed promising to pay it.

  2. Reese Serra

    Contributor Level 13


    Lawyer agrees

    Answered . The answer is no, you still owe the debt 100%. Also, you may want to double check to see if it was recorded. I would be shocked if it wasn't. Good luck- Reese Serra

    This advise is only being offered as a courtesy. We do not have an attorney-client relationship and I do not... more
  3. Harry Steven Ellman

    Contributor Level 4


    Lawyer agrees

    Answered . There will be an Affidavit of Lost or Misplaced Mortgage recorded once it is discovered not recorded and you have personal knowledge so do not attempt to refinance .

  4. John W. Drury

    Contributor Level 10

    Answered . As long as you owe any money on the mortgage you do not own the house free and clear, regardless of whether the mortgage is recorded. A complete mortgage release must be obtained from the lender in order for you to own it "free and clear". John W. Drury

    So there is no misunderstanding, this answer does not create an attorney/client relationship and you cannot... more
  5. Gary D. Strauss

    Contributor Level 6

    Answered . The failure to record will not affect your liability. It is possible that BOA sold or assigned the mortgage soon after you obtained it. Unfortunately the failure to record assignments, etc, is all too common. I represented a county that was actually trying to pay a homeowner and his lender money and it took months to find out the proper party, because the bank recorded with MERS.

    This response is general information and not legal advice, and does not create an attorney-client relationship.... more

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