lost title deeds

greenspun.com : LUSENET : Repossession : One Thread

we were advised (seemingly correctly because we thought they'd seek possession within weeks) to withold mortgage payments from ocwen to force them to take us to court. Our mortgage agreement, along with hundreds of others is considered illegal (but there is no court ruling precedent). We have not paid them a penny for over 3 years now, but we really need to modernise our home & substantial investment is needed urgently. With that in mind (& the possibility of perhaps eventually losing the court case) we decided to offer a settlement to ocwen & remortgage elsewhere. After 2 months of looking, they've finally admitted they've lost the title deeds & our house is not registered @ LR (they did charge us 100 for LR registration when we bought it!).Our new mortgage 'offer' is about to lapse & ocwen (igroup) now say they'll have to write to our neighbours about boundaries & we'll have to sign some forms to create new deeds. We know neither of our neighbours properties are registered either, so how can they help? What would the situation be if we can't get as good a remortgage offer AFTER the new deeds are drawn up? - if you can call 5 1/4% above base "good"?

-- michele taylor (ctnfitter@aol.com), June 29, 2004

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