Liens

[ifucan]

Got my permanent mod which I'm of course thrilled about. I had two other mortgages on my residence which
I had listed in my original BK. BK didn't go through....another story! I have not (knock on wood) heard anything
in nearly 2 years from either of these banks regarding the liens they have attached. How do I find out if these
liens are still attached? Could they have fallen off??

[despritfreya]

The second and third liens are still on the home. You can check your county recorder’s office for releases but it is unlikely either has released the mortgage liens. Each lender may have “charged off” the account or, at the moment are not pursing their lien rights (due to lack of equity in the home) or attempting to collect. However, do not get lulled into thinking that you are safe. The fact is either one can foreclose or take whatever steps allowed by law to collect. Apparently, at the moment they have chosen not to. Home values are now increasing and those who think they are safe (certain web sites allege they will never foreclose) will soon be in for a rude awakening.

And. . . if you do find releases of the liens, that does not end your inquiry. Unless they released you from the underlying promissory note you signed, they can still sue to collect since you did not get a discharge in the aborted bk.

Des.