May
21
How can I fix this mortgage problem with my home’s title?
By
I’m trying to sell my home, but it seems an unexpected mortgage comes up on the title check. That mortgage has been paid off over 10 years ago, and I haven’t been paying any mortgage since then. The mortgage company that held the mortgage has been sold and bought numerous times by other companies and I’m having trouble trying to get verification for the buyers that the mortgage has been paid. I need to do this quick so the buyers don’t back out. What can I do?
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5 Comments
May 25th, 2010 at 4:06 am
You have no one to blame for this but Y-O-U! Had you kept tabs on your mortgage over the years, you wouldn’t find yourself in this pickle. It was paid off 10 years ago??? Do you have proof of this? If not… See you in Leavenworth.
John Zonk
John Zonk Realtor Inc.
Paris, Buchrest, Bombay & The Hague
May 27th, 2010 at 11:55 am
Go to the present company and let them verify that is n o mortgage in this property. When a Company buys another one accepts all the rights and obligations of the one selling. It will help if you have some proofs like cancel checks, statements etc. I doubt after 10 years they keep records but try the bank that you have at the time, they may have records of payments…GOOD LUCK
May 28th, 2010 at 3:06 pm
In the quickest scenario you will need to find some kind of proof relating to the pay off of the mortage regardless of what it is and then record an affidavit stating that the attached proof represents the pay off and describing all of the recording information regarding the mortgage. You really should get a real estate attorney to quickly help you. The title company can also assist you in the needed research showing who bought and or was supposed to service your original mortgage. The lender who gave you the money should have all that information as a starting point.
To get legal help go here:
American Bar Association: or
Buena Suerte
May 29th, 2010 at 7:21 pm
the best way to handle this issue is to go back to the original title company that you have an “owner policy” with. Either the first original title company when you bought the home (if you have not refinance since then), otherwise go back to the last title company. That is why you need title policy, is to protect you from such. Since it has already been paid off by you (I assumed you did), the title company will be able to get an “indemnity” to remove it.
But if you still have any proof that it has been paid off, it would help tremendously. Normally once you paid off a mortgage, you would get two things from them, 1) paid in full letter – a letter stating the mortgage been paid in full. 2) a reconveyance of title. If you can dig up either two, that would help. If not, just try going back to the title company.
June 1st, 2010 at 12:38 pm
Your credit report can be of some help. It will show the balance, if close and last reported.