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What happens if my mortgage company failed to record my deed?

Discuss everything relating to mortgages

What happens if my mortgage company failed to record my deed?

Postby urki » Sat Nov 10, 2012 5:22 pm

My mortgage company informed me they did not file the deed and wants me to record it. Am I required to have the deed recorded? What happens if i don't record it?
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What happens if my mortgage company failed to record my deed?

Postby fayne » Sat Nov 10, 2012 5:28 pm

Means you don't own the property. At least not legally as without a deed in the public record, there is no constructive notice that is required.

Record it.
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What happens if my mortgage company failed to record my deed?

Postby keri22 » Sat Nov 10, 2012 5:39 pm

In your closing costs you pay a couple hundred to have the deed recorded by the mortgage company. So you next step is to go back to them and tell them you paid in your closing costs to have it taken care of and they need to get it taken care of at Their expense. OR they owe you a refund of the costs that you paid them to do so and you can go do it yourself.
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What happens if my mortgage company failed to record my deed?

Postby aldo » Sat Nov 10, 2012 5:46 pm

First of all, relax. You became legal owner of the real estate as soon as the deed was signed and delivered to you. The purpose of recording a deed is to create what is known as a "chain of title." In the future, when you go to sell the house, an abstracter will check the county records for proof that you have a clear title to pass to the buyer. Without this check, no one will buy your house. This is the same thing that happened when you bought the house. Your mortgage lender would not have allowed the transaction to go through unless they were satisfied whoever was selling it to you had clear title. You probably got title insurance which guarantees this. Check your closing statement. If an amount was withheld for costs of recording, then whoever got these fees, the mortgage holder or maybe the title insurance company, has the obligation to pay them to record the deed. Otherwise, you should record the deed, yourself. Most recording fees are fairly low.

lou - retired lawyer
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What happens if my mortgage company failed to record my deed?

Postby hawly » Sat Nov 10, 2012 5:48 pm

Your mortgage company don't record the any deeds in a real estate transaction. This is a function of the title company that was hired to make sure there all liens are paid and you are provided with a clear lien with the exception of the mortgage company you obtain to finance your house.

You paid through a closing agent a title company to record this deed on your behalf. They should be required to do their job.

Your deed should have been recorded by the title company immediately after the close of your transaction.

If for some reason there was a mistake on the part of your mortgage company,there should be an explanation, the mistake corrected by your mortgage company and the recording should take place through the title company used in the purchase transaction.

You might would want to check and see if the title company recorded the note of the mortgage company. Without the note being recorded their is no legal lien on the property proving they have lent you money to purchase the property. Normally the title deed and note are recorded on the same day at the same time.

Failure on the part of a deed going unrecorded would leave open the possibility of some one else recording a deed in their name.

I hope this has been of some benefit to you,good luck.

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What happens if my mortgage company failed to record my deed?

Postby bradleah » Sat Nov 10, 2012 5:54 pm

Recording a deed provides YOU a proper level of legal ownership. Recording such a deed is NOT the responsibility of the mortgage lender. Rather, that is the responsibility of the title firm which handled your purchase. And, in the end, it is actually YOUR responsibility to insure such recording of deed, since you are the purchaser.

If you do NOT record, you will not have proper legal evidence of ownership. If you are thinking that the lender will not have any recourse against you in the event of a foreclosure, think AGAIN. When you signed your mortgage loan, you gave authorization to the lender to 'encumber' your property. Failure to record changes NOTHING in such regard.
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