resolving previously unknown mortgage assignment error from 1992
How do we resolve a mortgage assignment error from 1992 that was recently discovered while applying for a HELOC? In the long paper trail created by lenders “selling the paper” behind the scenes, the financial institutions involved are no longer in business. However, it still appears in the title history as an “unreleased” loan. The loan in question was a second mortgage, which was successfully combined with our first mortgage and approved for refinancing in 1998. That loan was approved for refinancing again in 2016. Now suddenly, this has become an issue. We’ve attempted to contact title companies with no success. None of the various professionals we’ve consulted has been of any help. Our goal is to be sure the title is clear, as we plan to sell in the near future. I’d appreciate any advice you can provide about further steps. Thanks so much!
Terry Says
Well, that’s the purpose of Title Insurance — and so you should contact the title company that approved the 2016 financing. If you still have a problem, let them know that the “media” is interested in this case! Then write back to me with your contact info and the info of the person you spoke to — and you’ll have to be aggressive — at the insurance company.
