I am current on my mortgage. Bank of America purchased my note in the secondary market from CountryWide Financial, who purchased it from ano...

Question

I am current on my mortgage. Bank of America purchased my note in the secondary market from CountryWide Financial, who purchased it from another lender, who purchased it from another lender, who purchased it from another lender, etc, etc...The chain of title was broken and the original signed note was lost. MERS did not record the transfers with my county recorder's office.

here is my question

If I encumber my property with a loan from another private investor, not BofA, can that private investor then file a quiet title action to have BofA removed from title, since the private investor will have his original signed note and BofA will only have a MERS pdf copy?

Answer

I told you the answer yesterday. The law doesn't change because you ask your question over and over again. You are simply looking for an attorney who will tell you what you want to hear, rather than be advised that you are wrong. That should give you pause. An attorney who tells you what you want to hear just cares about ripping you off, not giving you cogent legal advice.

Answer

I'd further add that part of the problem in your thinking is that you are calling it a mortgage, which it's not. You have a deed of trust. A deed of trust and a mortgage are two completely different security instruments. People who think that they have a mortgage tend to engage in internet research for the term mortgage, and misread laws that don't apply to deeds of trust.

Answer

I agree completely with Mr. Roach and would add that you have no clue what you are talking about regarding title. A chain of title can never be broken any more than your chain of lineage can be broken. Your grandparents may die, but the chain remains, and because a chain of title is nothing more than a metaphor for the series of transactions affecting title and those transactions remain, the chain of title remains.

Answer

Basically, you are proposing to tell a court of law that you don't have to repay money you borrowed. There is ample evidence that you borrowed the money - the recorded deed of trust, your monthly payments, etc. etc. You are living in a dream world if you think any judge or jury will excuse you from your obligation to repay.