I have lost the original papers of my house.i want to sell it.plz give proper advice?
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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
I have lost the original papers of my house.i want to sell it.plz give proper advice?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.)
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