Legal Question in Civil Rights Law in California

I gave out a private loan with a residential property as collateral. The agent told me I am holding first title to the property based on title insurance he has bought. I received notice of default sale for that property and found out that my borrower has assumed the mortgage of the previous owner and that holds the first title. Now the agent is telling me it might be his oversight as he thought the lien was mistakenly being reported and would be taken out once my borrower purchased the property and so he has ignored it. The property could now be auctioned off with not enough money to cover the loan I made. Can I sue the agent for negligence and recover the money I would be losing?

Asked on 4/17/21, 5:28 pm

1 Answer from Attorneys

Armen Tashjian Law Offices of Armen M. Tashjian

Someone should have recorded your loan. If that did not happen, then you have a problem. If your agent was supposed to do that, based on the paperwork and failed to do that, then you definitely have a case.

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Answered on 4/17/21, 6:58 pm

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