Posted by Tom-FL on November 19, 2005 at 19:36:31:
Check you actual note and security instrument to see if there is a “subordination clause”. That would basically state that you agreed to be subordinate (behind) the institutional money, regardless of the recording order. I couldn’t see the primary lender funding unless such a clause was present.
On the other hand, perhaps you are on to a coup. If the clause is not present, it might be time to see your attorney and plan strategy.
Does county clerk error help me here? - Posted by Danno
Posted by Danno on November 17, 2005 at 12:10:41:
In 2001 I sold a property in texas and retained a second and third lien secured by deeds of trust. The primary funding came from a traditional mortgage lender.
My buyer has been delinquent on my loans, and in researching my recording information for potential foreclosure action, I noticed that one of my deeds of trust has an earlier recording volume and page number than the primary lender.
Does this imply that I have “first lien” by virtue of order of recording and could wipe out the primary lender in a foreclosure action (non-judicial in Texas)