# Sub prime mortgage lender has lost my loan agreement & now wants me to sign new one



## tom135 (3 Jan 2009)

my sub prime mortgage  lender has lost my loan aggreement and now has no copy of any signed document. they want me to sign another one at a lower rate. what should i do.


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## ajapale (3 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan aggreement & now wants me to sign new*

Speak to your solicitor.


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## jhegarty (3 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan aggreement & now wants me to sign new*



ajapale said:


> Speak to your solicitor.




+1

No question


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## 8till8 (5 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*

were you given a copy and do you still have it?


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## tom135 (6 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*

yeah i have a copy that is unsigned. solicitors are reluctant to take it on because if i am with a sub prime lender then i am obviously in financial bother and i suppose they are wondering who will pay them. have been told i could get an out of the mortgage altogether.


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## moneyhoney (7 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*



tom135 said:


> yeah i have a copy that is unsigned. solicitors are reluctant to take it on because if i am with a sub prime lender then i am obviously in financial bother and i suppose they are wondering who will pay them. have been told i could get an out of the mortgage altogether.



The way I see it you have a few options.

1. Sign the form but arrange for the lender to pay your solicitors fees up-front by arrangement between them.
2. Call the Free Legal Advice Centre (FLAC) - http://www.flac.ie/contact/addresslocation.html

I have heard of cases where MABS were involved and able to get people out of a mortgage because no documentation/errors under the Consumer Credit Act.


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## mf1 (7 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*

"I have heard of cases where MABS were involved and able to get people out of a mortgage because no documentation/errors under the Consumer Credit Act. "

I soooooooooooooooooooooo do not think so!

Even without a loan agreement, there will be a mortgage deed, a solicitors undertaking, a paper trail, a bank transfer........................No way will a Court waive a total mortgage amount - they may give some small allowances for interest or the like but not a lot. 

mf


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## tom135 (7 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*

Maybe. I dont know what the story is. One solicitir told me that because of the way the courts look at these type of lenders any judge will rule for me. He said that the only thing judges are interested in is a signed document and if that cannot be produced by the bank then the judge will not want to know about a paper trail. As I said I do not know. All advice given to me will be followed up. Thanks.


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## 8till8 (7 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*

Is there more to what you say about your solicitors reluctance to take it on, than meets the eye?  If your solicitor was worried about getting paid (from you, I assume) then they would ask to be paid on the spot.


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## mf1 (7 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*



tom135 said:


> Maybe. I dont know what the story is. One solicitir told me that because of the way the courts look at these type of lenders any judge will rule for me. He said that the only thing judges are interested in is a signed document and if that cannot be produced by the bank then the judge will not want to know about a paper trail. As I said I do not know. All advice given to me will be followed up. Thanks.



Away off you go so. I wish you luck. 
I really must go off and borrow some money, hope the bank loses the paperwork and then decide not to pay. Whoopeeeeee!

mf


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## Sunny (7 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*

There is no way in a million years that you will get out of the mortgage just because the bank lost its copy of a signed loan agreement so forget that bit of advice. I am not sure why your solicitors won't deal with you just because you are with a sub prime lender. Try a different solicitor if thats the case.


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## mf1 (7 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*

I suspect if you read OP's posts, you may very well understand why ANY solicitor would be unwilling to act. 

There is a lovely saying  amongst the lawyers that a client who will do whatever it takes to get out of their own obligations will have no hesitation in carrying that through to the (non) payment of your fees!

mf


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## bond-007 (7 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*

Being on a sub prime mortgage does not mean that you are in money troubles. Can you ask the solicitor that acted for you originally?


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## Complainer (7 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*



tom135 said:


> One solicitir told me that because of the way the courts look at these type of lenders any judge will rule for me. He said that the only thing judges are interested in is a signed document and if that cannot be produced by the bank then the judge will not want to know about a paper trail.


Was this professional advice in writing, or pubtalk?


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## bond-007 (7 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*

I would think that no signed agreement may cause the lender some problems if they ever tried to foreclose. 
I doubt the OP would get away with anything in this situation but it could make life awkward for the lender.


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## Bronte (8 Jan 2009)

*Re: Sub prime mortgage lender has lost my loan agreement & now wants me to sign new o*

I'm a bit confused.  OP you have a mortgage in existance with a subprime bank and they have lost a particular document, the loan agreement.  You mean the document you signed in order to get the mortgage in the first place and you think that you will not have to pay the bank back because they have lost this document?  Is that where we are at?  You are implying that because they cannot produce 'paper' that a judge will say the mortgage is not real?  And your solicitor (one of how many, you mentioned more than one?) has told you this but will not act for you?


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