How to get a satisfaction of mortgage letter for property purchased 12 years ago?

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How to get a satisfaction of mortgage letter for property purchased 12 years ago?

My husband bought a home 22 years ago. Since he didn’t have credit established yet so he couldn’t get approved for a loan from the bank. Therefore, the owner allowed him to make payments to him directly. While still making payments, the owner passed and his daughter took over as POA and my husband then paid her the remaining payments. He paid it off in full in 12 years ago. We are now trying to get a home equity loan and the bank wants the satisfaction of mortgage letter and we cannot find one. I’m not sure if it was ever completed. Is it possible to just contact the daughter and get the letter completed now? How do we proceed?

Asked on July 2, 2019 under Real Estate Law, North Carolina

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 1 year ago | Contributor

You can certainly ask for one, but you can't compel her to give you one: the agreement was with the owner, not the daughter, even if she managed his estate, so she has no obligations personally under it, such as to document or annotate that it was paid off; and  in any event, afgter 12 years, even if she had any obligations under the loan, it's too late to enforce them and force her to do anything. The best you may be able to do is to provide through your own records evidence that you paid everything. But you can also contact her and ask if she will do this--there is no harm in asking.


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