Posted by John Behle on December 09, 1998 at 16:53:06:
Bud’s advice covers it pretty well. If the note has been sold or otherwise assigned, there should be an assignment recorded.
If they are around, you could also try locating them through the internet through Four11.com or switchboard.com or others.
If you don’t have any success that way, try Bud’s “send the last payment” approach.
Finding the current owner of a note (mortgage) - Posted by AndyA
Posted by AndyA on December 09, 1998 at 12:17:06:
John:
I purchased a condo with owner financing from an elderly couple in 1988. The condo is in Fla. After 2 years of sending payments directly to them, they hired a local Michigan bank to “service” the mortgage. The bank subsequently sold the “servicing” to another bank in Calif.
I suspect the couple has either passed away, or sold the note. In either case, I would like to find out who currently holds the note and contact them to negociate a payoff and take steps to guarantee I will get a valid
“satisfaction of mortgage” after payoff.
Letters to the sellers Michigan address are returned address unknown. I spoke to the bank currently servicing the loan. They will not release any information regarding the note holder. If a note is sold, is it recorded?
How can I research this?
Thanks
Andy
Re: Finding the current owner of a note (mortgage) - Posted by Lee
Posted by Lee on December 11, 1998 at 21:44:01:
Hi Andy
Have you looked in the Social Security Death Index?
" http://www.ancestry.com/ssdi/advanced.htm "
(with out the quotes)
Good luck
Lee
Re: Finding the current owner of a note (mortgage) - Posted by Bud Branstetter
Posted by Bud Branstetter on December 09, 1998 at 13:40:31:
Contact the recorder’s office/county clerk where the property is located. They may be able to look up if any assignments have been recorded. Or they may refer you to a source that does abstracting/title searches. An assignment should be recorded. Sending a letter asking for payoff amount may not necessarily get a response from the owner but only the servicer. You could be devilish and send a letter that by your records you will make the last payment next month and want a satisfaction of lien sent to your address.