What to do if our mortgagee says that our deed-in-lieu was completed but will not put it in writing or show a zero balance on the account?
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What to do if our mortgagee says that our deed-in-lieu was completed but will not put it in writing or show a zero balance on the account?
Are they required to? They say it is understood that it was complete when the property was conveyed to them. That was 5 months ago and they are only telling me this now that I asked the media for help? The bank has a track record of constantly changing who your case is assigned to. In each case, the next person never knew what the last said. Until I have something in writing, this isn’t over. My on-line account showed I still owed the full balance this morning. When I pointed that out, they deleted my account access.
Asked on November 22, 2012 under Real Estate Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
So long as the lender has recorded the deed in lieu of foreclosure that you have written about it is not required under state law to show a zero balance under the loan account for the simple fact that its acceptance and recording of the deed in lieu of foreclosure is evidence in and of itself that no more money is owed on your loan for the subject property.
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