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Who owns mortgage note on a PSA Trust- mbs?

Dublin, CA |

Wachovia said that investor does not want to modify loan. Do they hold note to my house?

Attorney Answers 3


The lender does not need to modify the loan just because it would be better for you.

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MBS undoubtedly stands for "Mortgage Backed Security". You loan is a loan bundled together for sale. Wachovia is just the servicing agent. The servicing agent does not own the loan or the note.

This answer in no way creates an attorney-client relationship. The answer is not a complete answer and requires additional facts in order to provide the best options. The submitter accepts the risk of relying on such an incomplete answer and waives any claims of damages for doing so. As stated in the answer the submitter should contact a qualified bankruptcy attorney is discuss these issues further before any action is taken. Any action taken without advise and counsel of a qualified attorney is inadvisable.

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It doesn't matter. In California, a lender generally has no obligation or duty to provide a borrower with a loan modification. (See California Civil Code section 2923.6).

The information presented here is general in nature and is not intended, nor should be construed, as legal advice. This posting does not create any attorney-client relationship with the author (who is only admitted to practice law in the State of California). For specific advice about your particular situation, consult your own attorney.

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