Wrong Address on Mortgage Paper

[Shera]

Hi all. Please forgive me if I fail to use the correct terminology here. I just discovered something interesting that I would like to get your feedback on.

As I am checking my house mortgage statement, I discover that although they have listed my mailing address correctly, the Address of Mortgaged Property is different. Really it is just a matter of 2 numbers being transposed.

To clarify, the actual house number is 154 while the statement AND Commitment for a Fixed rate Mortgage say it is 145. I checked.

There is no house number 145 on my street.

The Commitment for Mortgage paper that I have is an original, at least it has my original signature in blue ink. I am guessing that this is my "mortgage paper" although I dont want to assume anything.

So, now what do I do? I "bought" the house 1 1/2 yrs ago. Mortgage comes due in 2010.

So somebody goofed, big time, considering it is a $170,000 mortgage. Is this something I can use to my advantage? Or does this just mean that I am royally screwed?

Who owns the house that I live in now? Would they mind if I continue to live in it? Provided they actually knew about it. And No!, I aint tellin.

If I continue to make mortgage payments does this mean that I am consenting to this.....lie?

Thanks all. I have seen some pretty wise counsel here and I know you wont disappoint.

shera

[Notorial dissent]

Take a deep breath, and relax.

It is a clerical error signifying nothing. Somewhere in the mortgage papers will be the actual “legal description” of your property, that is all what matters. The legal description is what defines and identifies “your” property, not the street address, the street address is merely a matter of convenience. There will also be buried somewhere in the mortgage and errors and omissions clause allowing the mortgage holder to correct errors or omission in the mortgage. Call the mortgage company and let them know so they can correct the records.

[Extramural]

Yep Hes right. Good call ND

[Extramural]

Shera,

Welcome to the forum.

[mrg]

Originally Posted by Notorial dissent

Take a deep breath, and relax.

It is a clerical error signifying nothing. Somewhere in the mortgage papers will be the actual “legal description” of your property, that is all what matters. The legal description is what defines and identifies “your” property, not the street address, the street address is merely a matter of convenience. There will also be buried somewhere in the mortgage and errors and omissions clause allowing the mortgage holder to correct errors or omission in the mortgage. Call the mortgage company and let them know so they can correct the records.

I think you just got suckered.

Double or triple.

[Shera]

So if A is true:
It is a clerical error signifying nothing.

What point is there to B:?
Call the mortgage company and let them know so they can correct the records.

Aint gonna do it!

You say the *legal description* of my property is all that matters. Ah, not to my mailman, not to the tax man, not to the utility companies that provide service to a street address.
As I understand it, the legal description defines the *land* only, while the street address is somewhat more descriptive of the sum total of property. Altough neither is complete.

Street address is based on observable evidence while "legal description" is the domain of land registry offices, numbers and lines on paper.

The map is NOT the territory. I am not living on the map. And I sho aint convinced.



Would you like to explain further MrG?

[Notorial dissent]

You are making too much out of a clerical error. The legal description of the property and improvements is what the mortgage is tied to. The error on the documents does not affect your ownership or anything else, and they obviously have the correct mailing address.

The street address is merely a convenience that the PO uses to identify a particular location. Street address is a convenience. Generally in a title description you will see that property described as: legal description of property, commonly known as 123 Anywhere, Some City, Some State.

If your logic made any sense, then what would happen if the city changes the name of the street, or decides to renumber, or both?

I’m not saying you need to do anything, it is a clerical error, but it might save you some grief later on down the road when correcting the error will be more difficult.