Warranty Deed

Hi sed!

Welcome to forums!

A warranty deed is same as the title of your property. It is a document which proves that you are the owner.

Thanks.

Yes, there's no "title" like with an automobile. In real estate a deed conveys ownership.

The reason I'm asking is that after paying off our mortgage on our house, I received a letter from the Mortgage company with the following statement:

You may contact the county or town recorder's office for information about the time to process the lien release and how to obtain a recorded copy.

So ... outside of calling the county's recorder, what exactly am I asking for.

Again, Thanks for the help

Hi Sed!

Welcome to forums!

As your lender has asked you to to contact the county recorder's office, I suggest you should better do it. It is from the county recorder's office that you will get the recorded copy.

Sussane

What the mortgage company is referring to has nothing to do with your deed. When you pay off a mortgage the lender has a certain amount of time (typically 30-60 days) in which to deliver a release or satisfaction of lien - this is a document that states you've satisfied your debt and the lien is extinguished. Please note that sometimes a lender will send this document directly to the borrower, so if you've received a document that states "Release of Mortgage", Satisfaction of Mortgage, Mortgage Discharge, etc. you'll need to have that document recorded with the Recorder's office.

THANKS EVERYONE FOR YOUR HELP.
With your assistance, I found that in Michigan (here I live), it's up to the mortgage company to provide to the borrower a copy of the release of lien. So in 7-10 days I'll have all the documents to prove I own the property Free and Clear.
Thanks again ! ! ! ! !

Sed

Hi Sed!

You are always welcome! Congratulations to you--Its great to hear that you have paid of the mortgage and hold the property free and clear. If you have further queries regarding any other mortgage related issues, you can place the question in this forum and the members will try their best to give you a solution.

Thanks.

how can you prove that a mortgage loan is fraudulent, because no money was actually transferred between the mortgagor and the mortgagee?

Hi rasta!

You have said that no money was transferred between the mortgagor and the mortgagee. Do you want to say that the mortgagee haven't received the loan funds as was promised? Is there any documents that the mortgagee has been made to sign under false pretense?

Thanks,

Jerry

is a warranty deed the title of ownership of real estate,? and does that means your the soul owner?

hi Jerry and thanks for your response. Yes the mortgage was signed under false pretense, the the mortgage was for sixty thousand but the property in the mortgage only has a marketable value of eight to eleven thousand. From what I was told it was just to get the house transferred from an individual because they had to disclaim it as an asset for welfare purposes. Looking forward to you next response.

Hi I did not explain properly, the mortgagee is the one who got the mortgagor to sign under false pretenses. The mortgagee in this case is the seller and the lender

Hi rasta!

As far as the warranty deed is concerned, if no other name is mentioned in the deed apart from yours, then you will be the sole owner of the property.

As far as the mortgage is concerned, yes, this is a mortgage fraud. The lender has done a inflated appraisal and given you the loan. Have you already signed the mortgage note? What are the other documents that you have signed? You should immediately complain about the whole issue to the FTC and the state attorney general.

It seems that you are in trouble on your mortgage. So why don't you join this community and discuss all your problems with the mortgage experts participating in the forums? Being a member you will be able to earn dollars while you post your queries.

Thanks

If a loan was made for $60,000 with property used as collateral but the property is only valued at $8,000, does that mean that the remaining $52,000 would be considered unsecured loan. If so how can I remove the lien for $52,000 back to the borrower so I can clear the title on my property? Thanks

Hi rasta!

A similar query has been answered in the given link:
http://www.mortgagefit.com/know-how/unsecuredloan-lien.html
Please have a look.

Thanks,

Jerry