Legal Question in Real Estate Law in Massachusetts

signed a mortgage and mortgage note on nov,8,2005, at closing , no monmey exchange between anyone. then 7 days later our refi check came in from attorneys check book,payoff to old loan was also payed out of attorney check book. i just got full docs from that closing, and the money for the mortgage,payoff,etc,was not funded by the mortgage company that we have the mortgage with. i have the wire tranfer docs, that the money was from dueshe bank trust, and went stright into my attorneys checking account. so in other words the mortgage company that i have been paying for the past 9 yrs, never had money to give us. so why would i still be paying that mortgage company if they didnt lend the money??? plus at time of closeing your mortgage note states,#1, for money recieved from this lender,you promise to pay. this lender didnt give us a dime,and we are paying them. ???why ???


Asked on 4/10/14, 4:54 am

1 Answer from Attorneys

There are a few prossibiities:

1. the mrotgage was assigned as of the date of the closing to your mortgage company as servicer; or

2. the mortgage company uses Deutche Bank as its bank

3. the mortgage company sold the mortgage to Deutche Bank and your Mortgage Company acts as servicer.

Look at your mortgage and see if it is filed using MERS. If that is the case the Mortgage can be transferred without your knowledge and the original Mortgage company can act as the servicer of the Loan.

I assume you get your 1098 from the lender each year so see whose name is on it. If it is your Mortgage Company then they either own the loan or are acting as the servicer of the loan.

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Answered on 4/10/14, 7:31 am


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