Chattel Mortgage

Who owns my home loan?

Attorney Goldstein — Mon, 06 Feb 2012 19:13:34 +0000

Each month you take out your checkbook and write that enormous check to some bank for your mortgage payment. This is the payment that you promised to make each month in exchange for the privilege of borrowing money to buy your home. Let’s say for example you pay Bank of America, Citi Mortgage or some other lender. However, what you might not know is that you don’t actually owe anything to that giant lender, and in fact they don’t even lend you one cent for your mortgage. In reality, that bank is actually just servicing the real investor of your mortgage. The funny thing is in most cases, you don’t even know who is actually receiving your hard earned money each month.

You do have a right though under the Federal Truth in Lending Act to find out who owns your mortgage. In addition, you have the right under the law to learn of their contact information and also request proof that they hold the right to your mortgage. This is actually very important in the event that you decide to try to negotiate a loan modification, short sale, or other debt relief or foreclosure prevention strategy. As such, if you are considering any sort of workout with your lender, you may want to seek the advice of an attorney in your state to make the proper requests.

For more information on this topic and other consumer debt matters, contact Attonrey Michael Goldstein.

Bookmark It

Hide Sites

Want jobs and prosperity? Fund education.

CA Fwd: Blog — Mon, 06 Feb 2012 12:00:25 +0000

It's a simple equation that is all too often overlooked because the benefits are not all immediate. It is clearly the strongest solution, however.

Initiative process “hijacked” by special interests, in need of reform

CA Fwd: Blog — Fri, 03 Feb 2012 12:00:35 +0000

Here we are 100 years removed from the creation of the ballot initiative process, discussing the need to reform the ballot initiative system in order to again help regain the citizen’s voice in government from wealthy special interests.

CACS Launches Civic Engagement Platform

CA Fwd: Blog — Thu, 02 Feb 2012 16:24:53 +0000

California is on an unsustainable financial path littered with the heavy-handed influence of special interest money. But we can counteract that influece in Sacramento if enough Californians come together and act to fix our state.

Tuesday AM: What’s happening right now?

CA Fwd: Blog — Tue, 31 Jan 2012 16:30:49 +0000

We take a look at some of the news items and events happening in California this week that affect all of us.

Weekly Coverage Roundup: The state of everything

CA Fwd: Blog — Fri, 27 Jan 2012 19:48:40 +0000

In the past week or so, many different campaigns, from the national to the city level, have kicked into gear. We take a look at which of them are hitting closest to home.

Forward Thinker Michele Lew works to be the voice for the Asian community

CA Fwd: Blog — Fri, 27 Jan 2012 11:00:06 +0000

After joining the Asian Americans for Community Involvement in 2005, Lew has worked with elected leaders in Santa Clara County and statewide, ensuring life-saving services aren’t on the cutting board for budgets.

The City of Bell moves forward

CA Fwd: Blog — Tue, 24 Jan 2012 18:08:18 +0000

The City of Bell made headlines for all of the wrong reasons. Now they are mending wounds of the past and forging ahead with new leadership and a focus on being transparent and accountable to their citizens.

From 1291 in Switzerland to 2012 in California

CA Fwd: Blog — Tue, 24 Jan 2012 16:33:05 +0000

The same three principles that have held the Swiss together for more than 700 years could help us pull together in California just as easily.

Sacramento region creating its own future in arts and entertainment

CA Fwd: Blog — Mon, 23 Jan 2012 16:34:00 +0000

The Sacramento region is riding the backs of people like Richard Lewis, who is helping to create flexible community partnerships based on trust that allow big things to happen to keep downtown Sacramento vibrant.