From: "news.verizon.net" 
Newsgroups: alt.org.natl-assn-mortgage-brokers
Subject: Re: ASKMARS Mortage question
Date: Thu, 08 Jul 2004 04:24:56 GMT

Two words:
Law yer


"askmars"  wrote in message
news:Xh2Hc.5672$sD4.260@newsread3.news.atl.earthlink.net...
>
> Here is a questions is running for $4 on askmars.com
>
>       Subject:  Abandonment & Unpaid mortgage
>       Posted By:  adymor
>       Value:  $ 4
>       Status:  open
>       Question:   Paid. The user has already deposited the value of this
> question.
>       Question:  A tenant has a mortgage on an apartment.
>       The deed to the apt is in his name. We own the mortgage. The tenant
> paid his mothly mortgage payments to us for 10 months (approx. 1/3 value
of
> the debt) - then disappeared, still owing the rest.
>       12 Years have gone by with no contact from the tenant.
>       * Is this considered abandonment?
>       * What are our rights as the owners of the mortgage in this case?
>       * Can we go for foreclosure (despite the fact 12 years have gone
by?)
>       * The tenant is now suing us for rent collected for the apartment in
> his absence - what are our rights?
>       * Is there a statute of limitations on a mortgage or it''s
collection?
> What is it?
>       And last:
>       * Since we have been occupying the apartment for 12 years, is there
a
> law protecting us someone who
>
>
>