How to get a satisfaction of mortgage letter for property purchased 12 years ago?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How to get a satisfaction of mortgage letter for property purchased 12 years ago?
My husband bought a home 22 years ago. Since he didn’t have credit established yet so he couldn’t get approved for a loan from the bank. Therefore, the owner allowed him to make payments to him directly. While still making payments, the owner passed and his daughter took over as POA and my husband then paid her the remaining payments. He paid it off in full in 12 years ago. We are now trying to get a home equity loan and the bank wants the satisfaction of mortgage letter and we cannot find one. I’m not sure if it was ever completed. Is it possible to just contact the daughter and get the letter completed now? How do we proceed?
Asked on July 2, 2019 under Real Estate Law, North Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
You can certainly ask for one, but you can't compel her to give you one: the agreement was with the owner, not the daughter, even if she managed his estate, so she has no obligations personally under it, such as to document or annotate that it was paid off; and in any event, afgter 12 years, even if she had any obligations under the loan, it's too late to enforce them and force her to do anything. The best you may be able to do is to provide through your own records evidence that you paid everything. But you can also contact her and ask if she will do this--there is no harm in asking.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.