Legal Question in Real Estate Law in California
Foreclosure
Can my mortgage lender foreclose on my property, even if they do not have the original note?
4 Answers from Attorneys
Re: Foreclosure
They try to all the time, but the answer is no, if you challenge the foreclosure.
Re: Foreclosure
Yes, and you better call a bankruptcy lawyer and have the foreclosure stopped.
Re: Foreclosure
Yes, and you better call a bankruptcy lawyer and have the foreclosure stopped.
Re: Foreclosure
If loan documents are lost or physically destroyed, the beneficiary (lender/secured party) remains secured, but the trustee or a court may require the posting of a "lost instrument indemnity bond" as a condition to a trustee sale, a judgment for foreclosure, or a reconveyance upon pay-off. See Randolph v. Harris (1865) 28 Cal. 561 and Huckell v. Matranga (1979) 99 Cal.App.3d 471. If the party seeking to foreclose no longer possesses the note because it has been sold to another holder, of course, only the current holder is entitled to foreclose.
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