Help! Mortgage Co. Assignment?

[momtoroxy]

Filed Ch. 7 back in October. Discharged a few weeks back. House was included in the mortgage. We are still living in the house, and plan to stay until they kcik us out.

I have been checking my county's website to watch for an NOD. Well, today I checked and under both my hubby and I, an "(ASN) Assignment" is listed. It will not let me view the document. What the heck is an assignment? "First cross party name" is my mortgage company, Chase.

What does this mean? Are they moving forward with foreclosure? Or should I not worry about it?

Thanks!

[SunshineGal]

Don't worry about it yet. When a lender sells a mortgage they must file an assignment of mortgage in the county where the property is located.

[momtoroxy]

what is strange is that US homes was who we bought the home from. It was sold to chase a few months after that and nothing was ever filed back then. Are they doing this to cover their butts for when they DO foreclose?

[SunshineGal]

Now that's a possibility. In order to initiate a forclosure Chase needs to prove they own the loan.

Does your mortgage note reflect Chase or US Home Loans? You should be able to view the parties online.

[momtoroxy]

Hmmm. I will have to check. Would it be under the deed?

[SunshineGal]

Yes, the typical recording order in official records is deed, mortgage, and sometimes you'll see an assignment directly after the mortgage.

[momtoroxy]

Deed says US homes still
Deed of trust shows UAMC (title co)
Assignment says Chase.

Hmmm?

The asignment says 1st parties
myself
my husband
US homes

2nd party
chase

[SunshineGal]

The Deed will show the sellers of the property and the mortgage will show the lenders. From what you wrote, you purchased the home from US Homes, who also has a mortgage company that did the financing. US Homes then sold the loan to Chase.