4 ms·
A bank without redundancy is the best place to have your mortgage. Just hope that one day they forget about your debt.
by jonwinstanley 8y ago
A bank without redundancy is the best place to have your mortgage. Just hope that one day they forget about your debt.
- wolfpwner 8y agoNice
- drharby 8y agoReal talk...they own my mortgage, i cant just 'forget about it' if they forget about it. I want to refinance it. Of they lose all data on my debt like that ending to Fight Club... is the debt just...gone?
- turc1656 8y agoNope. Liens are recorded with the county/state as part of property law, as well as any other encumbrances. So that would actually probably make your situation worse because the lien holder would have no clue about the debt and claim on the property and could be hell for you to remove even if you kept paying and eventually paid everything off. Could potentially be a nightmarish scenario and an exercise in pure bureaucracy. Probably some Brazil or Catch-22 style shit.
- rm_-rf_slash 8y agoThat was an issue during the housing crash. Banks were forclosing left and right on houses that were fully paid. It was a mess. Pro tip: if you’re ever in that situation, demand the bank produce the deed proving ownership to a court of law.
- airstrike 8y agoAs a Brazilian who banks at Wells Fargo thinking about a mortgage, this thread isn't very encouraging
- chrisrogers 8y agoHe's referring to the film, but I appreciate the effect of the double entendre.
- zdragnar 8y agoI'm relatively certain that it is on the lien holder to prove that you owe them money; otherwise, you could just re-file to have the lien removed.
- rubyfan 8y agoMore likely they will forget you paid them.
- Mister_Snuggles 8y agoAlways keep your receipts.