Mortgage NOT recorded by lender. Will trustee take house ?

[ValleYum]

Curses... foiled again! Thanks Des! I appreciate the feedback.

Good luck, OHBOY!

[OHBOY]

despritfreya:
THANK YOU so very much for your valuable additional input as well as for spending all that time on this.

Many THANKS also to everybody else for your suggestions.

Your efforts in trying to come up with useful ideas have an overall huge benefit as it results in a great amount of stress reduction to know that you are all out there with your willingness to share thoughts, advice, knowledge and experience. THANK YOU !

[tobee43]

Ohboy,

I just saw this thread and now I understand why you sent the PM. There is a very simple solution since you have not filed bk as of today. Get the lender to record the mortgage and then wait 91 days from the date of recording to file bk. Assuming Florida does not have a statute that covers when a lender can record its mortgage lien, if it records now the lender is properly perfected and if you wait 91 days from the recording date the recording is outside the preference period. Once outside the preference period the 7 Trustee has no say in the matter. Please note: I make reference to Fl law because some states require a lender to file the lien within a short period of time after closing. After that date passes the lender cannot record. I do not know if Fl has such a law.

Yalle Yum,

Your thought process is good but unless the problem is fixed the homestead will not protect Ohboy. The Trustee steps into the shoes of the "hypothetical" lien holder and the lien is preserved for the benefit of the estate. Since the lien would have been a "consensual" lien had the bank recorded it, it is presumed "consensual" for the estate and is ahead of any exemption.

Des.

tobee43: i know they say, and i would reach out to des on this question if this may be one of the only exceptions to the rule of not reaffirming one's mortgage. i mean if you reaffirmed it, would it even count if the mortgage was never recorded. also, i have heard trustees have the banks attempt refi's or loan mods before taking the houses to sell. although here in the middle district of florida which is where we now live, these trustees are doing crazy things...absolutely crazy things!!!

first check with your atty, also pm's des (sorry des) and ask him about your position. i'm sure you know who despritfreya one of the forum's BEST atty's and all around wondrous helpful human. i'm certain he may be able to give you some direction on this situation, or at least i hope.

sorry des, but just how did i know you'd have just the right answer?

thanks des