"Paid As Agreed" Mortgage Release?

Does anyone know where I can get a "paid as agreed" mortgage release? I am dealing with a personal held second mortgage and have negotiated out price with them but need to find a document for them to sign releasing the mortgage for less than owed.

Thanks,
Chase

Comments(2)

  • TheShortSalePro10th November, 2004

    You might not need one. Are you buying the mortgage via an assignment, or simply paying it off? Just hand them the $$$ and have them hand you the original
    mortgage. Then, either record the assignment, or the discharge.

  • Ruman10th November, 2004

    Home purchased for $60k
    Wells fargo 1st payoff now $42k
    Previous owner 2nd payoff $21k
    Previous owner agreed to take $6k for their payoff.

    Going to give them their payoff but unsure what to get in receipt of the payment that will release the lien. So I will give them the $ and they will give me the original mortgage. The discharge meaning a normal release of mortgage? The reason I am questioning a normal Mtg. rel. is because it says "paid in full". I guess I could just change that small wording to say "paid as agreed"

    Quote:
    On 2004-11-10 15:45, TheShortSalePro wrote:
    You might not need one. Are you buying the mortgage via an assignment, or simply paying it off? Just hand them the $$$ and have them hand you the original
    mortgage. Then, either record the assignment, or the discharge.

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