Must I execute a warranty deed for a loan modification?
Question Details: I was approved for an in-house modification on my mortgage. Upon receiving the legal docs, I noticed a warranty deed document as well. This doesn't make sense. Doesn't signing a warranty deed relinquish your ownership rights? Wouldn't the objective of each process be the opposite of one another? Retaining home ownership through a modified loan. Yet giving away my rights to that ownership via a warranty deed?
You are very wise to have looked before you lept. Please take those documents to ana ttorney to review and then to possibly the State Attorney General's Office. This sounds like those scams where people were promised help in modification but they had to execute deeds and then the companies sold the property right from under them. Good luck.
