"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
You might not need one. Are you buying the mortgage via an assignment, or simply paying it off? Just hand them the $$$ and have them hand you the original
mortgage. Then, either record the assignment, or the discharge.
Home purchased for $60k
Wells fargo 1st payoff now $42k
Previous owner 2nd payoff $21k
Previous owner agreed to take $6k for their payoff.
Going to give them their payoff but unsure what to get in receipt of the payment that will release the lien. So I will give them the $ and they will give me the original mortgage. The discharge meaning a normal release of mortgage? The reason I am questioning a normal Mtg. rel. is because it says "paid in full". I guess I could just change that small wording to say "paid as agreed"
Quote:
On 2004-11-10 15:45, TheShortSalePro wrote:
You might not need one. Are you buying the mortgage via an assignment, or simply paying it off? Just hand them the $$$ and have them hand you the original
mortgage. Then, either record the assignment, or the discharge.