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Release of Lien

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Icon Mini Profile smahany





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Post Posted: Thu Nov 13, 2008 3:01 pm    Post subject: Release of Lien
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I recently paid off my home mortgage. I am not the original Lien Holder on this house. When I tried to get a Release of Lien, the mortgage company told me it was filed with my county records building, but in the original loan holder's name. That was over 30 years ago that this person owned my house.

How do I get a free and clear lien on my home?

Thank,
Sharon
Icon Mini Profile carlpruitt
carl.pruitt




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Post Posted: Thu Nov 13, 2008 8:37 pm    Post subject:
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Welcome to the forum!

I believe you mean you assumed the loan? (This is nit picking but actually the lien holder is the lender.) When the loan was first recorded it was filed by name, but the lien is against the property itself. When you assume a loan, you assume the indebtedness on the original lien and you aren't creating a new lien. As long as the original lien has been released, the property is free and clear. It does not have to have your name on it. As a matter of fact, it would cause substantial confusion if it did have your name on it.

You can double check it by finding the document in the county records and making sure that it has a stamp on it indicating it was released and the book and page number where the release is recorded. There is no need for you to even have a copy of it personally for the lien to be released.

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Carl Pruitt
FHA Mortgage Advice, Guidelines and Commentary
Sharon

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Post Posted: Thu Nov 13, 2008 8:41 pm    Post subject: Release of Lien
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Thanks for your response. These eases my mind some. What papers do I need to get to show I own the house free and clear? Deed of Trust? Or some other papers? I've never paid off a house before. Smile
Icon Mini Profile carlpruitt
carl.pruitt




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Post Posted: Thu Nov 13, 2008 9:01 pm    Post subject:
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As long as they are recorded at the county clerk's office, you don't actually need to have any documents. If you sell or refinance, an attorney or title company will do a title search at the courthouse to verify that it is paid off.

For peace of mind, you can go to the clerk's office and get a copy of the recorded release.

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Carl Pruitt
FHA Mortgage Advice, Guidelines and Commentary
Icon Mini Profile jameshogg
jameshogg




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Post Posted: Thu Nov 13, 2008 9:36 pm    Post subject:
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Hi Sharon!

I agree with Carl Pruitt. In order to get a copy of the recorded deed, you can contact the county recorder's office.

Thanks
John L

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Post Posted: Wed Dec 10, 2008 3:35 pm    Post subject: I purchaced a home owner finance, and paid it off with a H/E
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I never received a release of lien from the seller and that was 10 years ago what steps do I need to take to clear my home, Chase sent the paid in full balance to the owner in 1998
Icon Mini Profile smithsussane
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Post Posted: Wed Dec 10, 2008 9:21 pm    Post subject:
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Hi John L!

Welcome to forums!

As far as I can understand, if you have paid off the lien, you need to contact the person who has placed the lien and get a lien release certificate from him/her. You have mentioned that
"Chase sent the paid in full balance to the owner in 1998". Was it sent to you?

Feel free to ask if you have further queries.

Sussane
sgottlieb

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Post Posted: Fri Jan 23, 2009 2:47 pm    Post subject: Home
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Hi Mr. Pruitt. About two years ago, I finished paying the mortgage on my home. I am disabled and am working part-time. Can Creditors put a lien on my home on unsecured loans? Thanks.
Icon Mini Profile jameshogg
jameshogg




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Post Posted: Mon Jan 26, 2009 12:39 am    Post subject:
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Hi sgottlieb,

As far as I know, yes, there are chances that the creditors may place lien on your property for unsecured debts.

Thanks
Icon Mini Profile carlpruitt
carl.pruitt




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Post Posted: Thu Feb 12, 2009 4:27 pm    Post subject:
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I apologize for not seeing this earlier!

For an unsecured debt, the creditor would have to sue you and get a judgment in order to place a lien on your property. Whether they could do this or not would depend on the statute of limitations in your state and the age of the debt and also whether or not you had filed for bankruptcy. It is not uncommon for unsecured debtors to take the issue to court.

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Carl Pruitt
FHA Mortgage Advice, Guidelines and Commentary
richorcindy

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Post Posted: Tue Jul 07, 2009 11:41 am    Post subject: Finding Mortgage Holder
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My mortgage has been transfered to three different companies since i purchased the home in 1995. Now i cant find the new mortgage co and all the ones previously claim they no longer have the mortgage. What now?
Icon Mini Profile adonis
adonis




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Post Posted: Tue Jul 07, 2009 8:59 pm    Post subject:
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Hi richorcindy,

You'll have to contact the second mortgage holder and get to know who your new mortgage holder is. If you do not know who your mortgage lender is, it would be difficult for you to pay your mortgage dues.

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bbomb

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Post Posted: Mon Sep 14, 2009 5:10 pm    Post subject: Time frame for receiving release of lien from lender
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Hello,

I contacted the mortgage company that serviced my loan. When I inquired as to when I might expect to receive the release of lien I was told six months. The length of time seems to be a bit long. Is there anything that I can do in order to receive the release sooner?

Thank You
Icon Mini Profile sunnyca2009





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Post Posted: Mon Sep 14, 2009 6:02 pm    Post subject:
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Did you enquire why it would take 6 months?
Mich

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Post Posted: Wed Nov 25, 2009 7:54 pm    Post subject:
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You need to check with your state about what their compliance law is--in Texas when a mortgage is paid in full, the lender is required by law to release the lien in 60-days. Perhaps your state allows 6 months, if so I don't think there is anything you can do since they are in compliance with the law. If it is less, then the mortgage company is required by law to release the lien in the specified time.
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