Long Island, NY Foreclosure Lawyer Arnold M. Bottalico
Contact us at 516-543-1329
  • Home
  • Bio
  • Practice Areas
    • Long Island, NY Foreclosure Defense
    • Real Estate
    • Estate Planning
    • Personal Injury
  • Services
  • Blog
  • Contact Us

Long Island, NY Foreclosure: I was served with a complaint to reaffirm the mortgage which was never recorded. Do I have to answer the complaint? 

4/25/2014

0 Comments

 
Generally, if the bank never recorded the mortgage then the bank has an unsecured loan and it can potentially lose its priority over other liens if it does not do anything to protect its interest. If the bank has a duplicate original mortgage then it can record it in the land records where the property in located and it will have a secured mortgage as of the date it was recorded. If it does not have a duplicate original mortgage then it will need to commence a lawsuit seeking to confirm the mortgage. If the borrower received the loan proceeds at closing, then it is likely the bank will obtain the relief it is seeking. However, sometimes the homeowner has defenses that can prevent the bank from obtaining the relief it is seeking. If there are defenses, then they need to be raised otherwise they will be lost. It is best to consult with an experienced attorney to make sure there are no valid defenses before a decision is made to not answer the complaint.
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Author

    Arnold M. Bottalico is an experienced Long Island, NY foreclosure attorney with over 25 years of experience, and he welcomes your questions and comments.

    Archives

    March 2020
    January 2020
    October 2019
    September 2019
    August 2019
    May 2019
    September 2018
    February 2018
    January 2018
    December 2017
    August 2017
    July 2017
    April 2017
    February 2017
    January 2017
    October 2016
    September 2016
    August 2016
    June 2016
    March 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    December 2014
    July 2014
    June 2014
    May 2014
    April 2014

    Categories

    All

    RSS Feed

Attorney Advertisement