Posted on: 07th Jan, 2010 07:53 am
My mortgage was with National City Bank. National City was sold to a company called PNC mortgage. PNC mortgage sold my mortgage to a private investor, although they still service my loan. I applied for the federal mortgage modification program because I was laid off. I was told that the investor,"Title Holder" doesn't participate in the federal program. I asked who holds the title and the loan and I was told I have no right to that information. I went to my local town hall to enquire about who holds the title to my property. The town records indicate that National City Motgage still holds the title, even though they no longer exist as a company. The people in the accessors ofice told me that if my mortage has been sold, the new title holder only has 90 days to file the new information on who holds the property title. They also told my I have the right to know who is holding the title to the properety. Is this correct? Do I have the right to know who holds the title? Is the new title holder required to file with town hall ?
Hi collinstim!
Welcome to forums!
It is your property and you do have the rights to know who owns the title to your property. Also, it is true that the new title holder will have to file the details with the town hall. If your lender is not ready to give you the details, you should contact your attorney and ask him to deal with the lender.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It is your property and you do have the rights to know who owns the title to your property. Also, it is true that the new title holder will have to file the details with the town hall. If your lender is not ready to give you the details, you should contact your attorney and ask him to deal with the lender.
Feel free to ask if you've further queries.
Sussane
I recently applied for a home loan modification and was hoping to utilize the new HOPE plan so I could receive the best possible modification I could. When I asked my servicer about the HOPE modification, it was indicated to me that the private investor who owns the mortgage does not participate in the HOPE plan. I have later learned (or at least strongly believe due to court docuemnts being sent to me indicating such) that Deutsche Bank owns the mortgage. Wouldn't a company as large as Deutsche be participating in the HOPE modifications? I did manage to get a modification which has lowered my monthly payments, but would like the opportunity to utilize the HOPE program to lower them even further. Any suggestions?
Hi aedontch,
It is completely the lender's discretion whether or not he would participate in HOPE. It is not mandatory for the lenders to participate in the program. May be Deutsche Bank, who owns the mortgage, does not participate in the program.
It is completely the lender's discretion whether or not he would participate in HOPE. It is not mandatory for the lenders to participate in the program. May be Deutsche Bank, who owns the mortgage, does not participate in the program.