Legal Question in Real Estate Law in California
I have a client who has been trying to obtain a copy of his second mortgage note so that he can refinance his first mortgage. Apparently he wasn't given a copy of his second mortgage note when he obtained this loan. He has submitted multiple requests since 10/27/09 and every time is told that "it's in research." Do lenders have a legal obligation to produce this note within a specific period of time? Is there any action we can take to force the lender to produce this note within, say, 30 days?
1 Answer from Attorneys
The only time the lender is obligated to produce the note is if they are suing to enforce it. As an attorney for over twenty years and having practiced in real estate and secured lending for most of that time, however, I can't think of any reason your client would need a copy of the second mortgage note in order to refinance his first. I have never heard of anyone requesting the note except in an action to enforce it. If you would like to provide me with details of why the client is looking for the note, perhaps I could recommend some alternatives to expedite the process.
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