Q: Can a mortgage company create a mortgage out of thin air and try to foreclose none of their dates line up
can a 2nd mortgage be taken out on a home before the first mortgage is even paid off and if so is it possible for the first mortgage company to give the deed to the home owner while there is a supposed 2nd mortgage still out there. I ask this question because a mortgage company is trying to take possession of my dead grandmother's home which was paid off by saying they hold a mortgage which none of us in the family had ever even heard of as well as the fact they're saying the mortgage loan was for $250,000 and it was done in 2010 yet the home was only worth 120,000 at that time.Is this a scam because they didn't think there was anyone alive to contest it. Also how would I start to contest the court case
A: It is possible to take out a second mortgage while a first mortgage is on the house. The deed to the house is delivered to the homeowner regardless of whether the house has mortgage liens on it. It is not the same as a car title where the lender holds the title until it is paid off. To determine whether it is a scam and how to contest the foreclosure, feel free to reach out to me for a free consultation. Act quickly though before the case goes into default. You only have 20 days to respond to the foreclosure complaint.
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