Can asking the lender to show the grant deed, slow down the foreclosure process, if they don’t have it?

by oliver on September 30, 2010

Question:

Can asking the lender to show the grant deed, slow down the foreclosure process, if they don’t have it?

If the homeowner request to the see the grant deed during a foreclosure, but the lender doesn’t have the deed, can that slow down the foreclosure process? IN THE STATE OF CA?

Answer:

If the lender does not have the deed, it will not really affect the foreclosure process because a copy of which is stored on file with the County Office of Deeds and Records and can also be printed from the internet in less than 5 minutes. Therefore, requesting for a deed to slow down the foreclosure is not advisable.

It would be a lot better if you prevent the process from taking action rather than just slowing it down. If you want to keep your house, there are ways and opportunities that you can take advantage of in order to prevent foreclosure. You can contact the United States Department of Housing and Urban Development (HUD) in order to learn of these options. They provide free housing counseling on foreclosure prevention in order to inform borrowers of the actions that they can take in order to prevent foreclosure. Some of the options and assistance would be refinancing and loan modification program. These two assistance options are open to all borrowers however, you must qualify in order to get the assistance that you need. If you want, you can also talk to your lender and work out a short sale agreement. In this agreement, your lender agrees that you can sell the property in the market at a price below the fair market value. Once he receives the payment, you will already be relieved of your financial mortgage obligations.

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