Rancho Cucamonga, CA asked in Bankruptcy for California

Q: Are california loan modifications that are approved filed with the County Recorders Office?

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1 Lawyer Answer
Mr. Dheeraj K. Singhal
Mr. Dheeraj K. Singhal
  • Bankruptcy Lawyer
  • Pasadena, CA

A: Not in the normal course of events. The original loan documentation provides for the recording of a Deed of Trust, which reference the actual Note. The Note itself is not normally recorded. If the payment terms are modified, it is unlikely that there would be a filing with the county recorder. However, if the amount of the Loan is actually being reduced, it may be appropriate to have some new documents recorded. The fee to record a document is quite modest, but the document itself typically must be notarized. Ask your lender to record a loan modification document if you want it done. In most cases, the modification is simply a contract between the lender and borrowere and does not have to be recorded to be effective.

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