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A mortgage must be satisfied (paid) in order to obtain a release that then must be recorded in the land records. The only other ways to discharge a mortgage are via a court order or to wait until the state of limitation for mortgages has passed in your jurisdiction. In Massachusetts a mortgage is no longer effective after 35 years.
On the other hand, if a mortgage has been paid and you cannot find the lender to obtain a release there is likely a way for you to record documentation in the land records that proves the mortgage was paid. For that you should consult with an attorney in your area who can advise you, and assist you in writing a proper affidavit accompanied by acceptable documentation.
A mortgage must be satisfied (paid) in order to obtain a release that then must be recorded in the land records. The only other ways to discharge a mortgage are via a court order or to wait until the state of limitation for mortgages has passed in your jurisdiction. In Massachusetts a mortgage is no longer effective after 35 years.
On the other hand, if a mortgage has been paid and you cannot find the lender to obtain a release there is likely a way for you to record documentation in the land records that proves the mortgage was paid. For that you should consult with an attorney in your area who can advise you, and assist you in writing a proper affidavit accompanied by acceptable documentation.
A mortgage must be satisfied (paid) in order to obtain a release that then must be recorded in the land records. The only other ways to discharge a mortgage are via a court order or to wait until the state of limitation for mortgages has passed in your jurisdiction. In Massachusetts a mortgage is no longer effective after 35 years.
On the other hand, if a mortgage has been paid and you cannot find the lender to obtain a release there is likely a way for you to record documentation in the land records that proves the mortgage was paid. For that you should consult with an attorney in your area who can advise you, and assist you in writing a proper affidavit accompanied by acceptable documentation.
A mortgage must be satisfied (paid) in order to obtain a release that then must be recorded in the land records. The only other ways to discharge a mortgage are via a court order or to wait until the state of limitation for mortgages has passed in your jurisdiction. In Massachusetts a mortgage is no longer effective after 35 years.
On the other hand, if a mortgage has been paid and you cannot find the lender to obtain a release there is likely a way for you to record documentation in the land records that proves the mortgage was paid. For that you should consult with an attorney in your area who can advise you, and assist you in writing a proper affidavit accompanied by acceptable documentation.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoA mortgage must be satisfied (paid) in order to obtain a release that then must be recorded in the land records. The only other ways to discharge a mortgage are via a court order or to wait until the state of limitation for mortgages has passed in your jurisdiction. In Massachusetts a mortgage is no longer effective after 35 years.
On the other hand, if a mortgage has been paid and you cannot find the lender to obtain a release there is likely a way for you to record documentation in the land records that proves the mortgage was paid. For that you should consult with an attorney in your area who can advise you, and assist you in writing a proper affidavit accompanied by acceptable documentation.
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What is the telephone number for the bank of America lien release department trying to get a satisfaction of mortgage that was paid off in 2009 but the mortgage is still showing open as of record?
bank of america lien release phone number
Who pays for satisfaction of mortgage?
If the mortgagee (lender) fails to record a satisfaction within the set time limits, the mortgagee may be responsible for damages set out by statute. A Satisfaction of Mortgage is a document signed by a mortgagee acknowledging that a mortgage has been fully paid by the mortgagor and that the mortgage is no longer a lien on the property. In order to clear the title to the real property owned by the mortgagor, the Satisfaction of Mortgage document must be recorded with the County Recorder or Recorder of Deeds.
If you have a lien placed on your house does this mean you can't refinance your mortgage OR buy a new home until that lien is removed?
The lien doesn't usually affect after-acquired property unless it's an income tax lien. You cannot mortgage, refinance or sell the property against which the lien was recorded. That is exactly the purpose of recording a lien in the land records.
Can a credit card company lien be removed if you don't pay?
The only way to remove an active lien is to pay it off. You cannot sell or mortgage your home until the lien is paid.
When a mortgage is forclosed with federal tax lien does the lien get paid prior to mortgage?
yes
What is the difference between a first lien and second lien mortgage underwriting process?
A second lien mortgage occurs when a lender is willing to impose a lien on an asset that already carries a lien with another creditor. An example of a second lien mortgage is a second mortgage being taking out for property. If a person does not make payments to either lender, the first mortgage is settled before the second mortgage can be settled,
What is the difference between vacate and satisfaction of a lien?
The difference between vacate and satisfaction of a lien is the way in which it was surrendered. During a vacate of a lien, the creditor is releasing the lien on a loan, usually because of a full repayment. The satisfaction of a lien would be like a repossession for non payment to a creditor.
Does satisfaction of lien pays the final judgment?
A satisfaction of lien is filed with the register of deeds after the last payment is made.
What is the legal effect of a lien placed on your unit for unpaid condominium assessments?
The effect is that you cannot mortgage or sell the unit without paying off the lien.
How can you volunteer give a lien on your house in AZ?
A voluntary lien would be a mortgage.A voluntary lien would be a mortgage.A voluntary lien would be a mortgage.A voluntary lien would be a mortgage.
Can a lien be put on your home if you have no mortgage?
Yes, a lien is put on your home because you have liability and it doesn't matter whether you have mortgage or not.
Could the mortgage company payout a judgment with the equity in the house without notifying me?
Yes. If you applied and were approved for an equity credit line mortgage and there was an existing lien on your property, the mortgage company was obligated to pay the lien before disbursing any funds to you. That is the purpose of recording a lien against a debtor's property. You can't sell, refinance or receive a disbursement from a credit line without paying the lien. It must have been discussed with you at some point during the transaction- when it was reported to the bank by the title examiner.
