Mortgagee Failed To Deliver Satisfaction Of Mortgage!
Hi
I recently paid off the second mortgage on a property that I own. The mortgagee was the previous owner of the house and his wife and he said that he would send us the satisfaction of mortgage. Its been over 5 months and we have no way of getting in contact with these people. Is there anything that I can do to have that mortgage removed from my property? I live in Florida. I have searched the web and found what might be a possible solution which is a quiet title action? Is this a possibility or am I way off base here? Also how would I go about doing a quit title action on my own with out a lawyer? Thanks for the help.
Yes, a QT Action would do it, but would cost you some atty's fees and court costs...how about talking to a title co. and asking them if they'd go ahead and pass title, showing them proof you've paid it?
If they'd accept your proof, then issue title insurance on it, you'd be in the clear.
Meanwhile if you know the address of the paid creditor, you might send him a certified, (with USPO receipt), letter, just telling him you're going to go ahead and sell the RE, and you're just giving him written notice of same, and that he's now been paid in full.
This would just be add'l proof you've paid him, for the title co.
Next time, pay a mortgagee like him through a title/escrow co., so he'd have to deliver his signed release to them, for you, in order to get paid.
When purchasing on land contract, I would recommend next time to have the seller sign a deed and put it in escrow until the mortgage is paid off.
Don't think he said anything about having purchased on a land contract. It could very well have been a purchase money second. I agree with John that a QT would take care of the problem but may not be necessary in this case.