Sometimes, we find our clients in the position where they are selling their home or other property and they realize that the mortgage they paid off, perhaps as long as 20 or 30 years ago, still remains on title as an unpaid mortgage lien. Unfortunately, this is an all too common scenario, and it is not your fault.
Typically, lending institutions send a “Release of Mortgage” to you and tell you to have it “recorded.” Many property owners do not fully realize what this this means, and the document subsequently gets discarded or lost in the shuffle over time, with you being secure in the knowledge that your mortgage has been paid in full. However, with the loss of that document goes the proof that your mortgage has indeed been paid off.
Regrettably, this is a dire strait to be in when you are selling your property, especially when your lender has long since been out of business. What to do now?
Fornaro Law has the ability, tenacity, and wherewithal to track down mortgage releases even if your lender has long since shuttered its doors, and even if your mortgage has passed through a succession of defunct banks. Not only is our ability to secure your lost mortgage release unsurpassed, Fornaro Law has a number of other methods to see that your mortgage lien is cleared, and you can proceed directly to a successful closing.
This is but one of the many techniques Fornaro Law has mastered to make sure that your investments and dreams are protected.
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Call Fornaro Law to help you with your real estate and other legal needs.
John Heneghan, real estate paralegal at Fornaro Law