Posted on: 19th Mar, 2009 06:25 pm
when i refinanced in ny 5 years ago, it was a reassignment so i didn't have to repay the mortgage tax.
i am ready to refinance again and my broker tells me that the last time around the lender recorded it as a loan satisfaction, not a reassignment. therefore, this time around i will have to pay the mortgage tax again.
first of all, who should have been responsible to make sure it was entered correctly?
secondly, what, if anything, can i do to get the recording changed so i don't have to pay the mortgage tax again?
i am ready to refinance again and my broker tells me that the last time around the lender recorded it as a loan satisfaction, not a reassignment. therefore, this time around i will have to pay the mortgage tax again.
first of all, who should have been responsible to make sure it was entered correctly?
secondly, what, if anything, can i do to get the recording changed so i don't have to pay the mortgage tax again?
Hi RecoilRob,
Surely, it was the lender's responsiblity to make sure it was entered correctly. To change the recording now is difficult. I think you should discuss this with the lender.
Surely, it was the lender's responsiblity to make sure it was entered correctly. To change the recording now is difficult. I think you should discuss this with the lender.
Well, it's been over 5 years and the lender has no interest in doing it. I'm going to have to force their hand.
Unless it was the brokers responsibility? He is still around, should he be held responsible?
Unless it was the brokers responsibility? He is still around, should he be held responsible?
Hi Guest,
I think the lender is the one who should have recorded it correctly. If it was a reassignment, they should have mentioned it as reassignment and not as loan satisfaction.
I think the lender is the one who should have recorded it correctly. If it was a reassignment, they should have mentioned it as reassignment and not as loan satisfaction.
Spoke with a lawyer, basically no company is under nay legal obligation to reassign so I'm screwed and will have to pay the tax this time around.