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Mortgage Paid Off |
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Last month I received a letter from my mortgage lender congratulating me on paying off my mortgage. I didn't think much about it since I knew it was a mistake. However, when I went on line to pay my mortage this week, (my mortage is also with my bank), my mortgage was gone. I re-read their letter and it said they sent my pay off notifaction to the county recorder of deeds and I coudl get a copy of my deed from them. I called the recorder of deeds and they have received a pay off motice from my lender and said I could come get a copy of my deed anytime.
What am I obligated to do here? It's a mistake, but not my mistake. |
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You are morally obligated to notify your mortgage company, and from a legal standpoint you should keep proof that you did so (certified mail for example.)
If by some chance thay insist your mortgage is paid off, then consult your own lawyer. I don't suppose you are obligated to keep after them. Put your regular mortgage payment away in a separate "escrow" account (perhaps held by your lawyer) so it'll be there when the lender finally realizes there was an error. If your lender has been collecting extra and paying your property taxes and insurance premiums, you'd better check to make sure those bills come to you. After that I'd just sit and wait. |
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Edith
Originally published on October 10, 2007 |
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