[Gathnet] Potential disaster when refinancing or paying off a mortgage

[Stuart D. Gathman]

Voice of experience here.

When you take out a mortgage or equity loan, the bank records a trust 
against your home at the local courthouse for the home.  Until 1996, when 
you paid off that loan, including refinancing or selling the home, the 
bank would record a "certificate of satisfaction" at the local courthouse.

Reputable banks still do that.  However, a trip to the local courthouse 
revealed that BB&T had not provided a certificate of satisfaction.

With help from our current bank, we have a copy of the cancelled check,
and the letter they received requesting that they release the lien.
Hopefully they will provide the certificate of satisfaction without
involving lawyers.

-- 
 	      Stuart D. Gathman <stuart at gathman.org>
"Confutatis maledictis, flamis acribus addictis" - background song for
a Microsoft sponsored "Where do you want to go from here?" commercial.