I need HELP determining 2nd mtge payoff - Posted by NJDave
Posted by NJDave on April 17, 2000 at 10:31:33:
A messy situation. I can’t locate a second mortgage lienholder for a (discounted) payoff. The mortgagee is Banc One Financial Services. They have no record of the loan, the borrower’s social security numbers, or property address.
The titlework (Charles Jones, LLC) show their’s is an open mortgage. I went to the County Hall of Records, and there was an assignment to another Company that didn’t show up in the title search, but that Company has no knowledge of the loan, either. Somebody dropped a $60,000 ball.
The Borrower tells me that the loan was discharged in BNK, but I cannot confirm this.
I want to structure a short sale, but have never encountererd this situation before. I’m uncomfortable with ‘loose ends’ and fear that this one can blindside me.
What should I do?