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#1451762 - 10/05/10 04:05 PM Maturity Date Expiration on Mortgage & Lien
Anonymous
Unregistered

We have a situation where the maturity date on a mortgage has expired. The mortgage stil has a balance. We have prepared a modification to extend the maturity date; however, one of the borrowers refuse to sign the modification. Is our lien still secured? Or is this loan now considered unsecured.

Thank you for the information!

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#1451815 - 10/05/10 04:56 PM Re: Maturity Date Expiration on Mortgage & Lien Anonymous
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Check you state law. If you happen to be in IN your mortgage is valid for 10 years after the expiration date recorded on the mortgage. If no expiration is recorded on the mortgage then it is only good for 20 years from the date the mortgage is executed.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1452088 - 10/05/10 11:03 PM Re: Maturity Date Expiration on Mortgage & Lien Dan Persfull
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,659
Florida
Check like Dan said - SC has 20 years after maturity
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