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Mortgage question

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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?
 
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TheGeekess

Keeper of the Kraken
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?

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

LdiJ

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

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.
 

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?
 

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