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    When a mortgage is sold...

    I have a quick question I hope someone can help me with. We included our home in bk7 and they have yet to foreclose - so I was reviewing our public records.

    I'm curious, when a loan is bought/sold - is there a new public record added or is that just something that happens behind the scenes?

    Back around 2006 E*Trade took over our 1st mortgage and I see no record entered. Is that normal? The only thing still showing is Amsouth Bank (now Regions) from 2005.

    I do see our 2nd mortgage, but I find it so strange that our 1st is still showing under Amsouth. Shouldn't they have released the lien or shown a satisfaction of mortage once E*Trade took over.

    Thanks in advance!

    #2
    It may be that the mortgage was not sold but that the servicing was transferred.
    Lawyer - $3000
    Filing fee - $299
    Fresh Start - Priceless

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      #3
      So who would foreclose - E*Trade or Amsouth?

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        #4
        Originally posted by florida View Post
        So who would foreclose - E*Trade or Amsouth?
        The owner will foreclosure but it may still be handled by the servicer. This arrangement can also complicate getting a mortgage modification.
        Lawyer - $3000
        Filing fee - $299
        Fresh Start - Priceless

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