I had a second mortgage loan from a family member that was drawn up by an attorney.  It appeares as a lean against my house.  The loan is now paid off.  How do I show the loan has been satisfied and remove the lean from my house?  There is no problem with my family member, we just don't know how to proceede.
134169
simply have a release of lien form filed in the county court clerks office where the home is. The cost is about $10. Any title company can prepare and notaries the form for you for a small fee.
524036
You should contact the mortgage company financing your loan and let them know what happened.  As the lien holder on the property, they need to know the house is damaged and might be able to offer some suggestions.  Perhaps they will allow you to sell it for less than the balance on the loan, which is called a short sale.  List the home with a Realtor and sell it as-is.  If the mortgage company approves the short sale, they will pay the commission on your behalf.  As far as the insurance company, continue fighting.  It's ridiculous how they don't mind taking our money, but when it comes to giving some of it back, forget about it.\n\nGood luck to you!
580888
Have the owner(s) quit claim the property to you, if they are willing,(they might want something for their equity) then reinstate the loan by coming up with all back payments and late fees. Then notify mortgage company to start sending mortgage statement to you. You will need to get an authorization to release information signed by everybody who is on the note and or title.(This allows you to talk with the owners lender.) Some people will say that this will trigger due on sale clause, but 99.9 percent of the time, this is not true. Just because they say its not assumable, doesn't mean its true in the real world. The bank cares more to have a performing asset on their books, then to go through the expense of foreclosure. If this is not an option with the owners, since you have been renting house for two years, and if  your bankruptcy is now discharged, there are many sub-prime lenders who specialize in this type of transaction. Another avenue to consider, if there is not a lot of equity in the house, is doing a short sale,  the hurdle to get over in this situation,  is that the owner would have to be in the position to not pay his bills, or at least look that way on paper. Another way is if there is more than one mortgage on the property, the 2nd mortgage holder is usually willing to discount the note substantially, if they think there not going to recover the loan amount.. As far as paying the rent, legally, the owner cannot evict you while he is in foreclosure. (laws vary from state to state.) And yes, you will get kicked out after the property goes to auction. Another possibilty if you have the money, would be to approach the lender and see if they would sell you the mortgage. Lenders can and will do this, if you have cash money(they won't do business this way if you say you have to borrow it, although this can be accomplished if done properly, i.e. borrowing the money from someone you know) and many are willing to discount too. If you need more answers, repost with more specific info.
120432
To be honest, she's fortunate they have given her this long.  My bank would have already foreclosed, sold, and filed it away.  I want to help you out of the predicament, so here's what you need to do:\n\nFirst, ensure that your friend goes to her bank ASAP.  She needs to ensure they know that she is ready and willing to work with them on bringing the arrears up to date.  She should ask specifically if they are willing to stop foreclosure if she gives a concrete plan.  If so, then she needs to outline to the bank exactly how she plans on bringing it up-to-date, with specific payment dates and a specific completion date.  She should review this with you and any other people who are helping her out, to ensure that it is realistic.  This shows the bank that she's serious about resolving the situation.\n\nOnce the bank has outlined this, you and your friend have to ensure that timeline is met.  Even being one day off can upset a banker that was previously willing to work with you.  \n\nForeclosure is an expensive process, but it is worthwhile for the bank because the value of the home usually greatly exceeds the value of the loan.  After the mortgage loan is paid off, the remainder of the funds are applied to legal costs, which can be quite substantial.  Your friend will likely have to pay for any legal fees that have been incurred... but the cost of that is far outweighed by the value of keeping her house!  \n\nGood luck!
592595
I am not an attorney, but can give you some things to think about. \nYour half of the value can go up or down, depending on market value.  How much total is he giving you as your part.  It should be 1/2 of the value (equity) left after the loan is paid,when you got your divorce. When you quitclaim, you are saying you no longer have an interest on the house.  Are you sure he would agree to put you back on the house.\n\nIf he refinances, he is using up your equity.  If the house gets sold, there will be a bigger loan to pay off.  There may or may not be any money left after the loan is paid off.\n\nHope I didn't confuse you. I really suggest you consult an attorney who will look out for your rights.
162985
You know if you've paid off the total or not.  If you didn't, then you owe the money.  If you paid it off, show the bank your proof (canceled checks and/or receipts, etc.) You don't need a lawyer.  That will just cost you money. \n\nYou signed a contract with the bank when you financed your car.  Just because they may have a made a clerical error doesn't relieve you of your obligation.
601681
Howdy. I live in Texas and have had a few real estate dealings. It sounds to me like you don't have much of a case. If you signed the FMV form, that's all that necessary, since the lender usually fills the thing out and submits it to you for approval. The lender's signing is an implied agreement, given that they provided the value figures on the form. Remember, lots of things in the Texas Constitution have been amended by legal precedence over the years, without those cases being included IN the Constitution.\n\nEven if you have a leg to stand on with no actual second signature, I would bet that a judge would side with the lender in your case, simply due to that old standard legal mumbojumbo that says "this is what is commonly accepted as proper legal practice".\n\nYou might also want to check with your original lien holder to see if they have any input on the lender who holds your second lien. Sometimes, these home equity folks tend to be a little shady in the way they do things. If you call them on it, they may back down from foreclosure or give you some alternatives to losing your house.\n\nGood luck, whatever you decide to do.\n\nFiveStarAuthor@aol.com\n\n(I've edited several books on real estate, so I actually do know something about this subject, though I'm hardly an expert.)
191840
Unfortunately in the - very advanced - society we currently live in, the computers do not have a field for joint applications and/or accounts.\n\nThey - institutions and the like - say yes it is joint, but the fact is whoever is listed first, is who the account/property, etc is listed under.\n\nOne (the institution etc.) has to look further into the matter (via computer screen) to see the joint names.\n\nBut it is the individual that appears first on the account that USUALLY has ALL the control.\n\nHaving said that, when you contact the customer service departments, speak to a supervisor, if the rep. is not responsive. YOU ARE listed on the account and have the right to the information. So a)You should get billings - even if they are copies, and c)You are entitled to mortgage interest information - if you know the amount - then you are legally (understand I am NOT an attorney/accountant) entitled you use at least 50% - if not more. It depends on what percentage of mortgage /home equity you pay - even if you do pay ALL, ex may argue he used his funds to pay your 'whatever' bills.\n\nb)Equity account awarded to you - again speak to supervisor and/or their legal people. Explain you have judgment in your favor-they SHOULD- give you the access you need to the equity.\n\nd) If the house is in your name, then the house is yours and the loan is 'joint' Insurance claims as I understand (I'm not an insurance agent)are paid out to the lien holder's favor (mortgage company) who would then release it to proper party - like the people that reconstructed whatever broke - so do not pay out of pocket - let insurance company pay.\n\nNone of the above is easy, or a great way to do things.  it will take time, and probably longer than you would like. Document EVERYTHING, who you talk to and when, check your credit report regularly (I have a link to free report on my website) and do what you can to move on.\n\nYou may decide it prudent to get a second opinion from an another attorney, it may be expensive, but may be worth it, IF it allows you to get on with your life.\n\nGood Luck!
576063
You can "sell" the house but the deed or title wouldn't be clear until the 3rd lien is satisfied. The buyer might agree to some arrangement if he's paying cash but I doubt that his mortgage lender would agree to starting the loan in second position.\n\nIt can be worked out with some fancy-footwork with your third lien holder.
608022
Before removing your self from mortgage, why did you leave the property?\nGo to a lawyer and take his advise pronto.
243181
you have to prove it was a fake signature and get the picture of the person that did sign for you at the closing- get all the parties involved. the title company the realtors,the co-owner.  Have fun proving you didn't sign the documents though.  you are right a lawyer needs to be notified but the cost to bring this to court and put the guys in jail is expensive too...enough that you may not want to persue it.  Try finding the person that signed chances are they've gotten out of town too.  On a good day you'll find every body and catch them before they leave town but they've got to think your not going to do anything.  hence, even if you do they might not care and it could be dangerous to boot.  I hope your guys are amateurs.  I don't have any direct info for you but I have a friend that went thru similar home fraud case and the FBI and state's atty. were interested in her case-maybe they can refer a good atty. Mortgage lending fraudulent transactions are federal offenses.  If you get 25 yrs for credit cards I hope it's more for lying on a loan document.
391235
Has the lien been reported to your credit?\nIf not, pay it off. If so, consult an attorney specializing in real estate.
641471
When a property gets foreclosed on, and it's the first lien holder that is doing the foreclosing, then the second and third and fourth (etc.) will get wiped out at the foreclosure auction. What an investor will do is to buy/tie up the property from the defaulting owner and see if he can discount the first and second. The second will most likely agree to a small amount (usually 7-10 percent) because they will lose everything once the property gets foreclosed on. The first will usually accept a 20 percent hit.\n\nNow what you quoted is that the second note holder was stating that he will own the property by buying it from the person in default and take over the first position's loan payments and make it current. Therefore, he is not interested in selling his note to the investors. The investors in that example were idiots for not controling the property first or the owner didn't want to sell. The investors were hoping to buy the second note at a discount and bid at the auction and own the property with at least 15 k equity plus whatever the homeowner had in equity.  \n\nYou can buy any note by approaching the lending institution that holds the note and making an offer to buy it. You will need cash to do so.\n\nAlso, to clear up the quoted reference, you can purchase property "subject to" existing liens/loans. Taking property "subject to" means that you will take over the payments, but the old owner is still responsible for the loan(s). So if you stop paying the mortgage/trust deed, the lending institution will go after the old owner and start foreclosing on the property. Buying property "subject to" existing loans is one way where someone with no money and/or credit can get into a home and own it. The second note holder was buying the property from the defaulting owner using the "subject to" clause.\n\nI either confused you or helped you. Either way, I just saved you hundreds of dollars in late night real estate infomercials! ;)\n\nE-mail me if you have any questions.\n\nRegards
615119
You can try to do it yourself by going to the office of the county clerk or county register (where the deeds are recorded) and following the deeds back for 20-30 years, but this will only show the record owners of the property.  It will not show if there were any mortgages that were not paid off, it will not show if there are any judgments against owners of the property (which act as liens against the property), it will not show if all taxes, added assessments, water and sewer fees have been paid and it will not show you all of the easements or other restrictions which may affect the property.\n\nYour best bet is to spend $500-1,000 and get a title insurance policy.  The title company will search anything and everything that may affect the quality of the title and they will issue an insurance policy protecting you from claims by anyone else.  Also, if you ever plan on financing this property the lender will require a title insurance policy anyway.
486421
If it is an unsecured loan, then they cannot use your home, also, if the loan was only in his name, there is no way they can claim the loan off you either!\nThe only leg they have got to stand on is if he lied on the application, but with him dead, there is not much they can do about that either!
130035
Did you have the house appraised? If I were you I would listen to your attorney.  Have the house listed with an agent and sell it at fair market value. Even if you have to pay the agent at least you know you weren't taken advantage of. Don't be pressured into doing something that may be unfair to YOU!! Have the house appraised and have it listed.  \nI don't think you should trust your ex.\nDon't do him any favors and make it easy for him.  I would walk away from that deal.  No, I think I would run.
313385
I am not the dragon fly but I am a loan officer whose e-mail works :-)\n\nPerhapse I can assit you with your mortgage needs.\n\nDrop me a line with your mortgage scenario (purchase, refi etc) and I can tell you if I can assit you or not.\n\nKevin 866-562-6838 x 106\nkruorock@firstratelending.com