• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Mortgage question

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

B

Bigshott

Junior Member
What is the name of your state (only U.S. law)? Michigan
Recorded county documents show that an Assignment of Mortgage was recorded from the original mortgage lender to another bank. Two weeks later there is a recorded document that states the original lender has filed a Certificate of Discharge. The document says it received full payment and does hereby cancel and discharge said mortgage.
Question is are they assigning mortgage to another lender? Then what are they discharging? It doesn't say they are discharging their interest in the mortgage, they have filed that they are canceling and discharging the mortgage.
Any thoughts?
 
Last edited:


TheGeekess

TheGeekess

Keeper of the Kraken
Bigshott said:
What is the name of your state (only U.S. law)? Michigan
Recorded county documents show that an Assignment of Mortgage was recorded from the original mortgage lender to another bank. Two weeks later there is a recorded document that states the original lender has filed a Certificate of Discharge. The document says it received full payment and does hereby cancel and discharge said mortgage.
Question is are they assigning mortgage to another lender? Then what are they discharging? It doesn't say they are discharging their interest in the mortgage, they have filed that they are canceling and discharging the mortgage.
Any thoughts?
Click to expand...

It means the other bank bought and paid for the mortgage and now owns it. :cool:
 
LdiJ

LdiJ

Senior Member
TheGeekess said:
It means the other bank bought and paid for the mortgage and now owns it. :cool:
Click to expand...

I agree, but its a bit unusual for there to be a discharge of the mortgage on the deed...even when its sold to another party. Usually it shows an assignment of the mortgage to another party...at least, in the ones I have seen.
 
B

Bigshott

Junior Member
From what I can see, the assignment of mortgage from quickin loans to Etrade c/o GMAC.
Two weeks later, etrade servicing prepared certificate of discharge for MERS as nominee for Quickin Loan has received full payment and satisfaction, does hereby cancel and discharge said Mortgage.
I am still confused on what is happening here.

Would it be prudent to do a title search?
 
You must log in or register to reply here.

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
Top