Legal Question in Real Estate Law in California

I recently found out I have an outstanding 2nd mortgage from a 3rd party servicer. I did a loan modification 7 years ago and assumed my 1st and 2nd mortgage were combined. 7 years later I am bout to sell my home and find out 2 days before finalizing on the home sale a 3rd party owns the loan. My current mortgage servicer agreed the 1st and 2nd loan were combined but did not reconvey this information to the county. All these years I did not receive any correspondence or bills indicating I even have a second mortgage. 2 days before we close the deal on the home sell, we find out we can't sell the home because the 3rd party has a lien on the property. I notified the county I live in and they report there are no liens, what do I do next. The 2nd loan over these years has doubled and they say we owe over 100, 000 but have never received a bill or statement.


Asked on 1/05/16, 10:02 pm

1 Answer from Attorneys
William Christian Rodi Pollock

What does your title report say? If it shows the second, you need to engage counsel to review the title history and determine how you should proceed. Hint; it may be possible to bond around a second if the title company will agree, but is is likely to be expensive. This may allow you to close whole the controversy is resolved.

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Answered on 1/06/16, 10:16 am


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