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Second Mortgage Secured by Real Property. Statue of Limitation

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  • 08-30-2011, 05:11 PM
    sapple89
    Second Mortgage Secured by Real Property. Statue of Limitation
    My question involves collection proceedings in the State of: California

    First off according to california the statue of limitation on written contracts are four years after the expiration date.


    Situation:

    In 1999 I sold a house and took back a 2nd mortgage for a small amount due in 2004. (this note was written by escrow). Since the sale of the property, I have never received a payment and am hoping there is a way I can still recover all or part of my "investment".


    Kicker:
    This note (secured by the property) was never recorded on title and the current owner has recently refinanced his home. (I believe my note should have caused a cloud on title when he refinanced, but the note was never recorded correctly by the escrow company.)


    Do I have any chance in recovering my note?
  • 09-01-2011, 09:19 AM
    Mr. Knowitall
    Re: Second Mortgage Secured by Real Property. Statue of Limitation
    What is the exact language of the note?
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