I owe a house which is having bank loan on it ,the loan which was taken by the previous owner.i knew this fact.but I purchased it because i felt that i would clear up the bank loan.but now i have weakened my financial position.so i am unable to clear that loan.Recently i met few people who showed interest in purchasing my house and were also ready to clear the bank loan.Now new problem occured.i found that i have misplaced my original papers of agreement and registration,which was done between me and the former owner of the house.Now i fear that the bank may capture my house and i will get nothing as its been so long that i have not paid the installments of loan to the bank.i had paid only few installments initially.I want to save my property,please help me.-vishwadeep
2006-09-28 06:47:03 · 6 answers · asked by vishwadeep h 1 in Home & Garden ➔ Other - Home & Garden
Okay, don't panic....
First thing Were any of the papers recorded at the county? You can get a copy of all the deeds there. and next the mortgage loan docs. you can call the mort company and get a copy of the mortgage note, though you will need to prove you're the owner of the property (thus why the deed is needed) unles syou've already files w/ the bank that you've assumed the original loan. Next you'll need to find a reputible title company and get them working on the paperwork for you to sell the house to the people who wanted to buy it. It might be an idea to look up the peopl eyou biught it from originally in case you'd need any new papers drawn up from them to sign. The title company should be able to help you out a lot in this. it's what they do. (unfortunately, the bigger the mess, the higher the cost.)
You should call the bank and make arrangements to make at least one payment as that shows due vigileance, and lets them know you're not a deadbeat. even some kind of a payment arrangement will keep them from forclosing on you. the bank doesn't want your house, they just want the $ they think is owed to them.
2006-09-28 07:00:41 · answer #1 · answered by jeepguy_usa 3 · 0⤊ 0⤋
What country are you in? This sounds fishy. In America, every piece of property that is sold must have a Title Search done by a Title Company to prove that you are the owner of this property & have the legal right to sell it. The search also will show any outstanding debts that are owed on the property. If you had something in writing with the previous owner & never had it recorded, then it will not show up in your title search & you are just out of luck if you can't find it. You don't want to buy OR sell anything without a clear title or search. You can accept offers, then withdraw if the search shows something you didn't know about. Call a Title Company in your area.
2006-09-28 14:02:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The owner most likely had the loan papers filed with the title company. Just go to the title company and ask them for a property profile on your house and ask them for a copy of all the leins. That should get you what you need.
2006-09-28 13:55:57 · answer #3 · answered by GEE-GEE 5 · 0⤊ 0⤋
Bank will give u copy of papers u just go and ask for , if any doubt just send someone else and tell him to ask , what bank can do in this type of case.
Bank must support..........
2006-09-28 14:59:29 · answer #4 · answered by Pinki 3 · 0⤊ 0⤋
Contact the title company. They have all of that. Or the county?
2006-09-28 13:54:20 · answer #5 · answered by Anonymous · 0⤊ 0⤋
you can get it from registration department if you had the survey no. of land and house no.
2006-09-28 20:57:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋