mortgage company lost note

[karenjoy]

What is the name of your state? Georgia

We closed on our house the middle of November. Our mortgage company called and said either they or the bank they were selling the loan to lost our note with our original signatures. They want us to go back to our local mortage broker and sign another note. A few questions:
Am I required to sign another note?
If I do, what should I watch out for? I don't want to have two notes on the same house.

 

[seniorjudge]

This is pretty typical of mortgage companies.

You certainly want something IN WRITING that fully guarantees that the first note is null and void.

Keep that document safe from fire, water, tornado, pests, earthquake, and lawyers for the next thirty years.

As to whether you are really required to sign another note, why don't you axe them how they would prove in a court of law that you borrowed any money in the first place?

You have a bargaining chip here....

 

[HomeGuru]

This is pretty typical of mortgage companies.

You certainly want something IN WRITING that fully guarantees that the first note is null and void.

Keep that document safe from fire, water, tornado, pests, earthquake, and lawyers for the next thirty years.

As to whether you are really required to sign another note, why don't you axe them how they would prove in a court of law that you borrowed any money in the first place?

You have a bargaining chip here....

**A: good grief. Do you want to bet that the mortgage has already been recorded on title?

 

[seniorjudge]

"**A: good grief. Do you want to bet that the mortgage has already been recorded on title?"

Yes....