Jerrylynnb
10th January 2016, 02:09 PM
I am going to research this, of course, but, I am just wondering if anyone one of you guru's know how to go about getting this done CORRECTLY! A relative of mine is within a couple of years of completing the original home loan schedule and is contemplating just paying it off.
The original mortgage lender has changed hands at least twice, and, they asked me to see what they have to do to make sure that everything is on the up and up and that they for sure get their title.
If anyone has any experience doing this, and can refer me to any links that show what steps and legal proceedings need to be followed, please advise.
I am not thinking about land patents or anything but simply retiring the mortgage and getting clear "title" (in the usual real estate meaning). The original holder of the mortgage (the company that made the original loan) is no longer in business (as best they can tell). What we are wondering is whether or not any of the later mortgage holders can document their claims (or interest) in the property, and, what documents are required of them to establish that any bulk payment made will be correct and sufficient to get uncontested title. The current holder of the mortgage only sent them a letter a few months ago advising them that they should send their payments to the new address (no documentation accompanied this advisement letter).
I don't know, but, I think I need to just cough it up and hire an attorney (they are so DAMNED expensive), but, I first want to learn as much as I can - help if you got any pertinent experience.
The original mortgage lender has changed hands at least twice, and, they asked me to see what they have to do to make sure that everything is on the up and up and that they for sure get their title.
If anyone has any experience doing this, and can refer me to any links that show what steps and legal proceedings need to be followed, please advise.
I am not thinking about land patents or anything but simply retiring the mortgage and getting clear "title" (in the usual real estate meaning). The original holder of the mortgage (the company that made the original loan) is no longer in business (as best they can tell). What we are wondering is whether or not any of the later mortgage holders can document their claims (or interest) in the property, and, what documents are required of them to establish that any bulk payment made will be correct and sufficient to get uncontested title. The current holder of the mortgage only sent them a letter a few months ago advising them that they should send their payments to the new address (no documentation accompanied this advisement letter).
I don't know, but, I think I need to just cough it up and hire an attorney (they are so DAMNED expensive), but, I first want to learn as much as I can - help if you got any pertinent experience.