On Apr 13, 7:21 am, (Todd H.) wrote:
"Ken" writes:
I'm in a shared mortgage/home ownership situation where in the
relationship with the co-mortgager/co-owner has gone sour. She says
she's going to buy me out, yet I know she has not the means to do
this. I've had enough of what I consider to be this person's game
playing, and I've decided to go forward with steps to force sale of
the house if necessary, in order to free myself of this whole shared
home mortgage/ownership 'mistake'.

However, my copy of the mortgage agreement has mysteriously gone
missing from my filing cabinet (which I never thought to lock, until
now) while the co-mortgager/co-owner refuses have photocopied for me
(let alone let me see), her copy of the mortgage agreement. When I
went to the bank (which the mortgage is with) to ask for a replacement
copy of the mortgage agreement, they promised they would get it to me
the next day. Then they stalled and dragged their feet and it looked
to me that they just weren't very motivated in getting this to me.
(Note it just so happens that the co-mortgager/co-owner is on cozy
terms with the senior loans officer at the bank.)

Then after pressing them, they finally handed me a mere two page
mortgage balance statement with the co-mortgager's and my signatures
on it and tried to tell me that this was a complete photocopy of the
original mortgage agreement. Not wanting to argue then and there, I
took what they gave me and consulted with a real estate lawyer. The
lawyer promptly informed me that the bank has no legal obligation to
provide me with a replacement copy of my original mortgage agreement.
When I asked him, "How then can I go about obtaining a copy of my
original mortgage agreement?", he briefly mumblied something about
"I'd start with the Land Title Office, see what happens, and then go
from there...". Basically in a round about way he basically made it
clear that he wasn't going to tell me exactly how to go about this
just so I could then go about the process of getting it on my own.
Unfortunately I don't have gobs and gobs of money just lying around to
pay him thousands of dollars to run legal errands for me.

Sounds like a ****ty situation. Sorry to hear it!

If the Land Title Office is where they record mortgages as a matter of
public record, then that's where to go.

Or you could tell the president of the bank what's going on and how
the senior loadn officers aren't providing you information you need
and you're not sure if you can keep repaying the loan without it.

Or you could tell you ex that you need a copy of the agreement or
you'll have to suspend payment and have a nice friggin life. You'll
have to be prepared to take a credit rating hit if she decides to join
you in non-payment.

Here in the US at least, the mortgage which documents the bank's lien
against the property and their right to foreclose on it in case of
loan default, is a separate document from the Note which outlines the
terms of the loan repayment, payments, due dates, parties owning
against the loan. The Note typically isn't a matter of recorded
public record and would be something you'd need to get from the bank
anyway.

--
Todd H. http://toddh.net/- Hide quoted text -

- Show quoted text -



That's what I was thinking too. I think here in NJ what's recorded
at the Hall of Records or similar is the existence of the mortgage
lien on the property and basic information, not the entire loan
document.

But I have to wonder, why the big panic over the loan document
itself? The most important things to know are the balance and if
there is any penalty or fees for early pay off. You already know the
balance and the fact that both your signatures are on the document,
making you both responsible for the debt. If you really want the
actual full document, then I'd go back to the bank and continue to
press them. Surely, somewhere, they have the full document. They
may charge you to retrieve it though.

Before you go the forced sale route, I'd do everything possible to get
it resolved reasonably. If they won't agree to that directly, then
I'd try to get them into mediation, which might be a face saving
alternative for them. If you go the forced sale route, it'd going to
be more costly for both of you.