Payoff & Deed Release

[JackieW]

What is the name of your state?What is the name of your state? Iowa

I payed of my mortgage on October 16, 2004. The mortgage company still hasn't released my deed. Everytime I call I get a different answer as to why I don't have the deed yet, (their last excuse was they needed a Quit Claim Deed from the previous lenders - mortgage was bought by this company +10 years ago!). Am I crazy or is there a law that states they have 30 days from payoff to release the deed or there's a $10.00 per day fine? Or is this something I will have to file a lawsuit over?

Help! The house is now sold and I need my deed!

 

[seniorjudge]

What is the name of your state?What is the name of your state? Iowa

I payed of my mortgage on October 16, 2004. The mortgage company still hasn't released my deed. Everytime I call I get a different answer as to why I don't have the deed yet, (their last excuse was they needed a Quit Claim Deed from the previous lenders - mortgage was bought by this company +10 years ago!). Am I crazy or is there a law that states they have 30 days from payoff to release the deed or there's a $10.00 per day fine? Or is this something I will have to file a lawsuit over?

Help! The house is now sold and I need my deed!

First, check with the title company that handled your sale.

This very irritating behavior on the part of lenders should be punished.

You need to check with the title company that handled the closing and tell them to tell the lender to get on the stick.

http://www.uslegalforms.com/lawdigest/mortgagesatisfaction.php/IA/IA-S123.htm

There appears to be a demand for satisfaction that you must file.

Send a demnad to the lender, certified mail, return receipt requested, demanding that the lien be satisfied. (You will probably have to record it at the courthouse.)

Mention this statute:

655.3 Penalty for failure to discharge.

If a mortgagee, or a mortgagee's personal representative or assignee, upon full performance of the conditions of the mortgage, fails to discharge such mortgage within thirty days after a request for discharge, the mortgagee is liable to the mortgagor and the mortgagor's heirs or assigns, for all actual damages caused by such failure, including reasonable attorney fees. A claim for such damages may be asserted in an action for discharge of the mortgage. If the defendant is not a resident of this state, such action may be maintained upon the expiration of thirty days after the conditions of the mortgage have been performed, without such previous request or tender.

 

[JackieW]

You're a peach! Thanks! That's exactly what I was looking for. I am going to hire an attorney and get my deed!

 

[seniorjudge]

You're a peach! Thanks! That's exactly what I was looking for. I am going to hire an attorney and get my deed!

Peach, eh?

That's not usually what I get called on this forum!

But killers have said nastier things to me in person than anything I have heard here!