- Mar 2, 2006
In order to answer that type of question you would have to define what the default method you are speaking of. As to what you are refering to on the company selling the note after closing this is a common practice and is not unlawful. Mortgages have two aspects when it comes to claiming interest in the contract.
There is the equitable interest which is usually held by the Serveicer, Mortgagee, or retained by the original lender. (This is the right to recieve payments on the debt) If the company gave you the service disclosure there is no violation of law
There is a legal interest which is held by the holder of the note, or by the Trustee when a deed of trust is involved. (This is the right to foreclose or call breach in a action at law)
So you should not base your lawsuit on these grounds
From: Doug <rudi2396@...>
Subject: [tips_and_tricks] Foreclosures........
Date: Wed, 01 Mar 2006 12:23:10 -0500
I have done a default process w/my mortgage co "Centex" and filed it
w/the county recorders office! I have a stack of papers you wouldn't
believe ! I also have a recording of a secretary's conversation stating
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