Posted by dewCO on March 27, 2001 at 12:30:30:
Try this on the note board to find out for sure. Don’t think YOU need to worry about the release, that’s borrowers question. You can release the whole thing when it’s all paid. But, yes there is a partial realease possible. Not sure about whether or not you needed to rewrite the rest that wasn’t released. Wouldn’t think so if you didn’t change the terms or principle due, etc.
need some info on notes - Posted by Lori
Posted by Lori on March 24, 2001 at 19:47:54:
I had someone recently do a refi on their first and they paid off about half of the 2nd i was holding. The new terms were written on the subordination agreement that was recorded. The mortgage company said there was no need for a new note to be written since the terms were recorded. This all seems a little strange to me that the guy that actually did the refi never signed anything about the new note. I have recieved the money for half the note already. Is this normal? And yes this is my first experience with notes. Also shouldn’t i have given some kind of release for the original note? Thanks