Deed Not Filed
Hi everyone ... this is my first time and I need some assistance ... I refinanced two and 1/2 years ago and the new mortgage company obviously paid off my mortgage from my old mortgage company (received the paid deed from old company) ... recently I discovered they did not file a deed... what should I do? and what are the ramifications of this situation. According to the documents at city hall they have no record of my new mortgage. Please help...thanks! 
Sounds to me like it's the mortgage that's nor recorded, not the deed. The deed gives you ownership interest in the property, while the mortgage protects the bank's lien position.
How dod you find this out? Did you run a title search on your property?
If it's not recorded, you legally don't need to do anything, it's the bank's fault for not protecting their interest. If it makes you feel better, you can call their closing department and ask if they intent to record their note.
sELLIT
You could also issue a mortgage yourself against the property and then you would be in a 1st position. Then if the property was ever foreclosed you would have a safety net as you would be paid off at the foreclosure sale, plus it might be motivation enough for the mortgage holder that is now in a 2nd position take a short sale.
That is if you think you are even remotely close to foreclosure.
If you sell it, the bank will still come after you. You signed a note which makes you still liable. While the loan is an unsecured loan at this time, you still need to pay it.
Also, I would consult your accountant. I wonder with the 1098's that the bank has been sending out to you are correct. If there is no mortgage listed, is it really tax deductable?
just my 2 cents
As you stated webuy, your property is still at risk, so yes the interest is still tax deductible.
The only that has occurred here is the bank or mortgage company has opened themselves to not being the 1st lien on the property if it is truly not filed.
I would almost bet this is a mistake on the counties recorders part rather than on the lenders though.
how do I issue a mortgage against the property?
blondie -
It sounds to me like you need to hire a Real Estate attorney. I know it can be daunting thinking that you need to pay lawyer fees. But this could cost you much more in the long run trying to do it yourself! Explain to the attorney your situation and ask him what he would likely charge for this...
Good Luck!
[addsig]
Was an assignment of mortgage or a satisfaction ofm mortgage filed?
From a legal standpoint, initiating another lien against the property yourself (before the mtg company records) will not do you any good(nice try though). The reason is because you have "constructive" knowledge of the existance of the mortgagee's lien - nothwithstanding their failure to record.
However, if you are intent on being "crafty" and wish to do some scheming, that second lien needs to be by a third party, who can then raise the legal argument that they were an "innocent purchaser for value", and had no knowledge of a first lien. In this situation that other lender (or a contractor - who files a mechanic's lien due to non-payment) will then have a first lien position and the original lender's only recouse is to sue you for their loss.
Should I say good luck ... or give you my condolences ?