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Posted by Jerry - Ca. on May 10, 2008 at 14:56:59:
In Reply to: General Foreclosure issues...Please help... posted by Markebpsi on May 10, 2008 at 11:21:04:
Mark:
Sorry for your situation!
The crux of this whole matter has to do with your refinance in 2006! You say "Then in December of '06 I did a refi, got approved on my own and put the house in my name. A Quit claim deed was done at that time to supposedly aquit my co-signer off the house.(all those documents are filed and accessible through my local county". Was the original Lender's loan paid-off? From what you are saying ... Yes it was! If so, your friend CANNOT POSSIBLY BE ON TITLE NOW! Especially with re-inforcement of a quit-claim deed being recorded!
Did the original lender used by you and your friend every record a "satifaction of deed or mortgage"? They're supposed to legally! Since the foreclosure proceedings are be brought againt you BOTH ... the lender is proceeding under the orignal promissory note which should have satisfied in 2006, when you refinanced and paid-off that loan! I'd check your 2006 loan documents and see if the forclosing lender was paid off! If so, they have no right to foreclose ... and the foreclosure action should be being brought by the new lender on the 2006 refinance!
Hope this helps.
Jerry-Ca.