I just purchased a home out of foreclosure in San Francisco, CA. There
is a 1 mil first which has not been recorded on the title.The mortgage
company who holds the first is refusing to give me a pay off or allow
me to bring the loan current. I would like to know if I can start any
action to erase them from the picture. The loan is not in my name and
they have not assigned the property...so am I legally libel for the
first mortgage?

I suggest you contact your title insurer.

When you purchased this home out of foreclosure wasnt the home listed
by the company that held the 1st?? If not how did you come about
finding the listing?


I am NOT a researcher I am just trying to help.

I have searched through several sites and what I learned was that
dealing with an unrecorded mortgage in your situation is not as clear
and simple as one would have thought.  Furthermore, one site said the
California is leading in mortgage fraud.

A more complete description of the facts would be necessary to begin
to advise you here, but any information would still not substitute for
the necessary legal advice.

If you still want a Researcher to look at your question, I suggest
that you increase the price considerably.  You might read the FAQs on
pricing.

whoops, I wanted to included this:

As the disclaimer below states, nothing here is a substitute for
informed professional or legal advice,  and that is what you need.


Good luck..