If you have ever fallen behind on your credit card bills,  and just ignore them as the creditor attempts to collect a debt, you can be
assured the creditor will do all within its power to make sure you eventually pay up.

Generally most credit card debt is unsecured, which means that you did not provide any collateral in exchange for the bank’s credit line that has been provided to you.

But, if you happen to own your own home, while it is true that you have not put up any collateral, should you completely ignore a small claims court notice, there is a chance that if the credit prevails, they will
attach the execution on to you property title.

Let’s assume you didn’t know about the court hearing and therefore didn’t go, regardless of whether you owe the money or not. If the court grants a judgment in favor of the creditor, they will take that judgment
and file it with the Registry of Deeds.

Once the execution/judgment has been filed with the registry of deeds, unless you can prove its not you….chances are you will eventually have to pay off the creditor.

Many people end up negotiating the dept and settle for a lot less than the full balance. But negotiating such reductions is not my
concentration here. What many people don’t realize is that the payoff should be conditioned on the proper release being forwarded to the registry of deeds.

Many homeowners don’t pressure credits to provide a proper release. The most common alternative to clear up an execution or attachment from the property after you have confirmed the debt has been paid off is to obtain a document from the court acknowledging the debt has been satisfied.

When the court rules in someone’s favor, it’s called a Judgment. That judgment is given to the plaintiff, if he won, and upon
receiving the money expected will sign the Judgment and mark it “Satisfied”. He is then obligated to return it to the proper court so it becomes public record.

If the execution/judgment was recorded with the Registry of Deeds, after you have confirmed that the Court received the Judgment marked “satisfied”, you will need to request a “Certificate of Judgment”.

From past experience, a “Certificate of Judgment” has been known to cost about $20.00, but that could change.

Upon receipt of the “Certificate of Judgment”, make sure you received the correct one. On more than one occasion I have been sent the wrong one. You can assure yourself that got the right one by verifying the Docket Number listed on the Execution to match the “Certificate of Judgment”.

Once you are sure you have the right one, you’ll need to either stop by or mail it in to the property registry of deeds along with the
proper recording fee which can range between $75 to $77 per document. Be sure to include a marginal reference for the book/page, or Land Court Document Number.

Upon recording, the attachment or execution will be officially released and discharged.

If you are interested in having me help you obtain a release for your property, please forward your request to: MortgageDischarge@gmail.com, fax your request to: 617-500-9931.  I am always happy to answer your questions.

Feel free to comment if you found this article helpful.

From past experience, I have noticed that many clients who contact me do so at the very last minute when they don’t know where else to turn. This is where my current knowledge and experience can help solve your problems. I don’t have all the answers, but with my knowledge and experience I have become familiar with the quickest and most efficient way to determine which lender may be responsible for issuing a release (your missing mortgage discharge).

 I can control how quickly I handle the request. Any mortgage discharge request that I get will be taken care of the same day, otherwise within 24 hours. But, as many of you already know, when I do my part, there is nothing more I can do but wait for the lender to respond.

Again, through experience, knowledge and past practice, I have become
accustomed to understanding the different processes different lenders use in
handling my requests. I try to make sure that they receive absolutely
everything they need to ensure that the lender can issue the release as quickly
as possible, rather than come back to me and say that they were missing some
information.

In the end, what you need, and what I want is your clients to be happy with your services. Rest assured if you have trouble locating a lender after 30 minutes of research, your best solution is to forward your discharge request to me. Researching and obtaining missing mortgage discharges is exactly what I do. I am here to help.

Please forward your mortgage discharge requests to MortgageDischarge@gmail.com, or fax to 617-500-9931.

The best strategy is to realize if you need help, send in your request to me as soon as you know you need it. I will do my best to ensure that your mortgage discharge request is obtained as quickly in time as possible. There are many factors we can control, and there are others we can not.

 Clients will appreciate it when you are able to provide them great customer service without realizing the tough challenges you face in ensuring that each closing moves
forward as smoothly as possible & making sure the closing takes place as
scheduled.

 If you have customers wondering why you didn’t get a mortgage discharge in time, just remember MortgageDischarge@gmail.com.

Happy end of the month of August, 2011 to all.

Many homeowners have had loans with Bank of America. Most homeowners, realtors and attorneys are likely to think and that getting a Bank of America discharge should be a piece of cake. It can be, if you know exactly what you are looking for.

Bank of America, N.A. has separate divisions that are responsible for servicing loans. You first need to determine whether the loan originated with Bank of America. How do you find this out? Well, you need to read the first page of the original mortgage that you signed. If in fact the loan was given to Bank of America, N.A., then you are heading towards the right direction.

 When Countrywide Home Loans was bought by Bank of America, they had just recently changed their name. Bank of America would be the correct lender to issue you a discharge if your loan originated with Countrywide Home Loans, or Countrywide Bank, FSB. Now, Bank of America, N.A. is not the exact servicer for your loan if it originated with Countrywide. The name of that department is BAC Home Loan Servicing, LP. Countrywide had a similarly named department and what Bank of America did was retain the same structural organization.

 Before you make the call directly to Bank of America for your request, be sure you have a copy of the recorded mortgage so that you can provide them the basic information necessary to issue a proper discharge. They are likely to ask for the following:

• Original Lender’s Name
• Original Principal Amount
• Mortgage Date
• Borrower’s Name
• Property Address
• Recording Jurisdiction
•  Book/Page or Document No.

If you are successful in getting your request submitted, the next step is to be patient. From past experience, Bank of America can take anywhere from 30 to 45 days to handle your mortgage discharge request.

One thing’s for certain: If you require a Bank of America discharge, make sure you call the right person. I would hate to receive a call 30 days later just to be informed the request went to the wrong office which would require that you start all over.

A few days back I received a request for a missing discharge for a company that disappeared a few years ago. At first I was excited to get the request, but not recognizing the name immediately, I know there was definitely some work to be done.  

Whenever I have a discharge or lien release request I first try to determine whether it is a lender I have previously worked with. For the most part, at least I will have an idea of whether they are cooperative in getting me the missing mortgage discharge.

I reviewed my records and this company was nowhere in sight. As I had previously indicated, with any new request, persistence is the key.

Anyhow, after a few hours of research I was able to successful get in touch with a company which now services Cityscape Corp. loans.

 Cityscape Corp is has been out of business for a long time already, but their outstanding mortgages are still out there causing headaches and delays with closings.

 If you are anticipating some rushed closing towards the end of the month, don’t wait until the last minute to get your discharge requests in.

Forward along your title exam to MortgageDischarge@gmail.com. You may not also fax your request to: 617-500-9931.

 As always, feel free to contact me with any questions

Private lenders are the toughest to find, especially when the organization they have set up was for only a few deals. There are those who make their location easily known, while there are others who may not be so kind. With mortgages that go into foreclosure, they may be no solution in sight.

To be able to write a clean title insurance policy, you may have to rely on your title insurance company. The title insurance company may be willing to let you write without exception to the outstanding mortgage if it can be shown that the mortgage may have already expired, especially when the collection period will soon expire.

 Time may not be on your side, and the difference of a few months may not help you.

More discouraging is the news that the new mortgage discharge demand law is not available to you, especially if the mortgage is to be dissolved due to its secondary position rather than being paid off.

 Whenever a loan is paid off, you can use the attorney payoff demand request to properly discharge a mortgage in approximately 45 days.

 Be prepared to come across these common issues, during these times of a high volume of foreclosures, property owners have taken extreme measures to try to save their home, some may only cause you more headaches.

When it comes to being able to efficiently obtain a mortgage discharge in Massachusetts, experience makes the difference.  I have over five years working in the field.

 There are times where you may not know where to turn, and it is especially during those times that your time may be better spend contacting me at MortgageDischarge@Gmail.com with a copy of your title exam and brief description of the title issue you’d like resolved. I can also be reached at 617-237-0729.  You may be amazed at how quickly certain title defects can be resolved.

I, by no means guarantee success, but a fee is ONLY due if I am successful.

You can be assured that I will do my best to obtain the discharge and/or assignment of mortgage that you require. As always, contact me with any questions you may have. I look forward to hearing from you.

MortgageDischarge@gmail.com                                                                                                                                                                                      617-237-0729