We were just seized documents from the sheriff’s office served, but the mortgage documents do lo?

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The mortgage company on the ballot listed services are no longer our mortgage. Citi has sold our loan portfolio on a monthly Star Nation. Furthermore, it seems my name on the documents we were served, but I’m not on the loan, but only to the act.

5 Comments
  1. Reply
    Iffy
    May 3, 2011 at 7:20 am

    You need to have your name on the summons since you are named on the deed. This is to inform you as an owner you are in jeopardy of losing your home. Does not matter who services your mortgage.

  2. Reply
    loanmasterone
    May 3, 2011 at 7:34 am

    Because your mortgage loan was sold to a different investor does not mean the new investor change the company that was serving the mortgage loan. Most lenders keep the same company to service their loan even though they purchased the mortgage loan from another lender. This is a common practice.

    I don’t understand seizure papers from the sheriff’s office. Normally the foreclosure procedure start with a notice that you have been late on your mortgage. This is normally followed by a notice of intent to file a foreclosure procedure against the property. After that notice has been sent you would be sent a notice of foreclosure/default.

    If you are in a judicial foreclosure state you would get court documents indicating your property is in foreclosure and a foreclosure hearing is scheduled, you are therefore required to attend. Failure on your part not to show up a default judgment would be issued to the lender.

    In order to properly insure that all individuals that have a ownership position in the property is served the foreclosure company or attorney look up the public records to see if there are individuals or companies added to the title after the mortgage loan has closed. All individuals and companies listed on the title deed as well as the mortgage are then served foreclosure documents even if they are not on the mortgage loan or signed the mortgage loan closing documents.

    I hope this has been of some benefit to you, good luck.

    “FIGHT ON”

  3. Reply
    Landlord
    May 3, 2011 at 7:38 am

    So what is the question? The house is secured by the loan and they have every right to seize it since someone, maybe not you, pocketed the banks money.

    The foreclosure goes with the loan, it does not matter one bit that it was sold.

  4. Reply
    Sharon B
    May 3, 2011 at 7:43 am

    I scratch my head at the lack of information AMERICANS have about the most important investment of their lives, their home. The answers I am seeing on this website amaze me. It is true that it does not matter who is servicing your loan, but the TRUTH of the matter is…..Original NOTES are lost. All notes were put into “Note Vaults” $ 8.00 per hour employees filed the original notes and 97% of them are missplaced. Here is the deal, the Banks have the money to FIGHT the homeowners who can not afford the costs to force the banks to show the correct paperwork and the Judges do not know what to do with the cases that are in the court rooms. Until they figure out what the heck is going to happen, Banks are now trying to foreclose as fast as possible because it is easier to foreclose and worry about it later ! There is a major mess and the “powers that be” are turning their heads and looking the other way! Look, if I gave you a loan, of say $ 50,000 and you did not pay me and I took you to court and told the judge ” l lost the original paperwork” would I win in the court of law?” I DO NOT THINK SO! The fact of the matter is you borrowed the money, yes! The Banks can proved that, this is just a way to strong arm the banks into sharing the lower interest rates. Lower the rates and people will make their house payments…pretty simple. As for you, just because you are on the Deed does not mean they have to serve you, they serve the party who owes them the money, and the party who owes them the money,who put you on the deed should have disclosed they were in default…..this could show negitivly on your credit report under “Public Records”..ouch!

  5. Reply
    the kid
    May 3, 2011 at 8:22 am

    Your name is on the deed, hence it is on the papers. They name ALL owners of the home to cover bases. If you got it fro the sheriff, then it’s been through court and you need to leave.

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