Incorrectly filed mortgag
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Incorrectly filed mortgag (by Ken [NY]) Jan 13, 2022 12:56 PM
       Incorrectly filed mortgag (by Robert,OntarioCanada [ON]) Jan 13, 2022 2:16 PM
       Incorrectly filed mortgag (by myob [GA]) Jan 13, 2022 3:36 PM
       Incorrectly filed mortgag (by Nicole [PA]) Jan 13, 2022 3:41 PM
       Incorrectly filed mortgag (by dino [CA]) Jan 13, 2022 4:14 PM
       Incorrectly filed mortgag (by Ken [NY]) Jan 13, 2022 5:10 PM
       Incorrectly filed mortgag (by Robert J [CA]) Jan 13, 2022 5:55 PM
       Incorrectly filed mortgag (by dino [CA]) Jan 14, 2022 11:31 AM
       Incorrectly filed mortgag (by Nicole [PA]) Jan 14, 2022 12:25 PM
       Incorrectly filed mortgag (by Ray-N-Pa [PA]) Jan 14, 2022 3:23 PM

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Incorrectly filed mortgag (by Ken [NY]) Posted on: Jan 13, 2022 12:56 PM
Message:

I am helping my cousin try to buy a house,seller says she has a mortgage but all i can find in county clerks filing is the deed.I ended up pulling up the date the deed was filed and looked at everything filed that day,fortunately small county, and there it was with a misspelled last name so it doesnt come up with correct spelling of last name.If she had said no mortgage i doubt it would have been caught by a title searcher so even if he bought a title policy i dont think the title company would be responsible.The deed was prepared properly by a local attorney,the mortgage with the misspelled last name was prepared by the USDA since it was a USDA loan,basically a govt employee.What would happen?Any thoughts --72.231.xxx.xxx




Incorrectly filed mortgag (by Robert,OntarioCanada [ON]) Posted on: Jan 13, 2022 2:16 PM
Message:

Would go to the lawyer then have fixed ASAP. Suppose there is insurance claim where something serious happens to the house then who will insurance company pay to. Right now the insurance company under writer wants me to take my mothers name off the deed or parcel of land as both names are on. I called the lawyer to have that fixed where will have to sign a document to have the house in one name. No one wants a claim paid to a estate. The lawyer should be able fix that where get it done as soon as possible. --99.236.xxx.xxx




Incorrectly filed mortgag (by myob [GA]) Posted on: Jan 13, 2022 3:36 PM
Message:

I'm confused-- I know nothing strange about that.

When the deed was recorded did they not get a copy of the recorded deed. That should have had the deed book and page to fid it in the court house-- wrong name or not? It's usually stamped several places and on each page recorded. --99.103.xxx.xxx




Incorrectly filed mortgag (by Nicole [PA]) Posted on: Jan 13, 2022 3:41 PM
Message:

I think a title searcher doing their job correctly looks up the names and also the property addresses and parcel number.

Your cousin should have caught the misspelling when he signed. The title company should have caught the misspelling. When he got his title policy he should have again seen it. When the title agent generated the policy they should have seen it when they did their checks and balances. Who would be responsible? No idea but I'd say title as they are the professionals. --98.237.xxx.xx




Incorrectly filed mortgag (by dino [CA]) Posted on: Jan 13, 2022 4:14 PM
Message:

For 2 reasons, there should not be a problem.

#1-- As I understand it, the whole idea of title insurance is that the title company is responsible for anything that they don't find. That way you know you are covered if something unexpected pops up. So if they don't tell you about a second TD on the property for $50,000 you could put in claim and have title company on the hook for the loan.

#2-- The title search should be done also based on the property so even if the name is not spelled correctly, it would be attached to the correct property in the recorded documents.

--76.171.xxx.xxx




Incorrectly filed mortgag (by Ken [NY]) Posted on: Jan 13, 2022 5:10 PM
Message:

My cousin is a prospective buyer,not the current owner.All we were told is there is a mortgage,i couldnt find it because last name was mispelled until i found it in a manner noone would use to look for a mortgage if they were searching and were not told there was a mortgage.Dino,not sure how your clerks office files things but here everything is filed by owners name --72.231.xxx.xxx




Incorrectly filed mortgag (by Robert J [CA]) Posted on: Jan 13, 2022 5:55 PM
Message:

You never know? But many times when I've purchased title insurance and they investigated matters they still have their mombo jumbo legal warning that if they looked and couldn't find something or it hadn't hit the records, they wouldn't be responsible.

Example "Property Tax". My title company paid the County Tax Assessor to look up and see if the current owner had paid his taxes. Records showed all was paid. I buy a 1/4 million dollar home and months later the County Assessor send me a bill from 2 years ago when the previous owner hadn't paid his taxes. My title company said they too looked and the assessor said all was paid. I also looked at the time and records showed all was paid. That issue cost me around $4,500.

After that I want sellers to include proof of payment of property tax going back 5 years. --47.155.xx.xxx




Incorrectly filed mortgag (by dino [CA]) Posted on: Jan 14, 2022 11:31 AM
Message:

Ken,

Should be searchable by both name and property since there can be recorded document that doesn't contain owner name.

But might need assessor ID number rather than street address.

--76.171.xxx.xxx




Incorrectly filed mortgag (by Nicole [PA]) Posted on: Jan 14, 2022 12:25 PM
Message:

Ken, there has to be a way to search the property, not just by name.

--98.237.xxx.xx




Incorrectly filed mortgag (by Ray-N-Pa [PA]) Posted on: Jan 14, 2022 3:23 PM
Message:

Corrective mortgage should be filed by the closing/title company. Most mortgages have verbiage that the owner will cooperate in the event there is an oppps.

That said, what would happen if you as a total unrelated party to this transaction would file a note against the place? I would think the correction would fall into a second position - that places you and your cousin in a strong position

--24.101.xxx.xxx



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