Deed of Trust Liens

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coverrexile

LoanSafe Member
Jun 11, 2012
8
0
1
So I have judgments and liens all attached to my home. I have 4 junior liens attached to my Deed of Trust.

I just had a Title search just to confirm my suspicions. The judgments are all from 2009/2010 and the liens
attached are also from the same period. My real estate business failed in 2009 so hence these issues.

In my state the SOL is 10 years so the judgments should all be off in the next few months.
However the junior liens concern me the most. Here's a breakdown of them:
1) First mortgage 2) CIT SBA backed loan 3) Woodlands Bank 4) An individual

#3 & #4 are 2009 plus 15 years to mature. On #2 CIT SBA I plan to make a Offer to Compromise. Hopefully that
will work to get the lien removed.
However on #3 & 4 an attorney told me the following:
"For a deed of trust to expire, the statute requires either 15 years from the date the final payment is due or 35 years from when it was signed. The title insurance company will have to make a determination as to whether the final payment date is definitely stated in the document. If it has, then the deed of trust will have the shorter 15 years for expiration. If not, 35 years from signing, which is substantially longer in your situation."

He didn't seem very confident the 15 years will stick and I'm not understanding why. If anyone can offer any insight or opinion on
this I would be grateful. Also any thoughts on a OIC to SBA.
Thanks