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socrateaser
socrateaser, Lawyer
Category: Real Estate Law
Satisfied Customers: 34174
Experience:  Attorney and Real Estate broker -- Retired (mostly)
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I am trying to get help filing a motion to satisfy for a lien

Customer Question

I am trying to get help filing a motion to satisfy for a lien on my mortgage taken out in 1997 satisfied within a year or two but the lien was never removed. The company dissolved in January, 2013 and after being bounced all over the federal and state offices I have been directed to file a motion to satisfy but have no idea how to go about doing that.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  socrateaser replied 1 year ago.
Hello,

Please clarify,

1 .Was this a foreclosure sale that was cancelled after you paid the mortgage balance due -- or a foreclosure that completed, which had a deficiency judgment that you thereafter satisfied/paid in full?

2. Do you know who owned the debt at the time it was finally paid in full? Or, is the plaintiff of record in the court file still current?

Thanks in advance.

Customer: replied 1 year ago.

No we took out a loan in 1997 for 36,500.00 from PV Financial Services, Inc. The loan was satisfied only a year or two later either through redoing our mortgage or borrowing money on my husband's retirement- it was paid in full but I unfortunately have no documentation. I think that the loan may have been sold off immediately as I do not recall ever writing checks to PV Financial. I am trying to get the records of the next mortgage action to see if I can determine whether the mortgage included this debt but am having trouble getting that information. I don't know who owed the debt at time it was paid off.

Customer: replied 1 year ago.

I don't see another response (got email saying you had responded) but have not gotten a response other than above questions. Are you still working on a response to my question> I will be unavailable for several hours so I will check the computer this evening to see if you have sent another response. Judy Alexy

Expert:  socrateaser replied 1 year ago.
Okay, thanks.

A motion to satisfy will not resolve this issue -- because there is no original court action upon which to base a motion. What you must do is file an action to quiet title under the law that I will provide below. Your damages are the value of the loan.

Obviously, you have a difficulty in that the lender may be out of business. You may have to find the bankruptcy court case and the search the court records to see who owns the debt, so that you can send a demand for satisfaction. If you cannot find this legal person, then you would have file your action by publication. This all goes way beyond filing a simple motion in court. This is a full-blown lawsuit from start to finish -- with a considerable amount of investigation required.

To be frank, you may be better served to contact a title company and see how much it would charge to sell you a surety to cover the value of the loan. Then you could record the surety with the deed registrar, and that would cure your title cloud. The reason for this suggestion is that it could cost you a small fortune to locate the current owner of the note/mortgage -- money that you will not be able to recover.

So, before you try to clear this thing through legal action -- and you will absolutely need a lawyer to plead this case, if you do, making a few phone calls to title or surety companies may save you a lot of time and hassle.

The law follows:

21 P.S. § 721-6. Notice to satisfy; damages for failure to satisfy

(a) Notice to satisfy.--After the entire mortgage obligation as well as all required satisfaction and recording costs have been paid to the mortgagee, the mortgagor may send a notice to the mortgagee to present for recording a satisfaction piece to avoid damages.

(b) Delivery.--The notice to satisfy shall be sent to the mortgagee by certified or registered mail, return receipt requested. The notice shall be sent to the mortgagee at the mortgagee's address designated in the payoff statement unless the person issuing the notice has actually received from the mortgagee another name or address to which requests for satisfactions are to be sent. If no payoff statement is received by the mortgagor or no address is provided in the payoff statement and the person issuing the notice has received no address to send requests for satisfactions, the notice to satisfy shall be sent to the address to which the mortgagor has most recently made payment.

(c) Form.--The notice to satisfy shall be in substantially the following form:

NOTICE TO RECORD MORTGAGE SATISFACTION PIECE TO AVOID PENALTY

Date of notice:

To the mortgagee named below:

The party issuing this notice believes that the mortgagee of the mortgage described below has received full satisfaction and payment of all amounts secured by the mortgage, including any applicable satisfaction fee, and that, where applicable, the mortgagee has been instructed in writing, effective as of the date and time of receipt of the mortgage payoff figure, to close and decline any further advances on any open line of credit which was secured by the affected mortgage. The party issuing this notice hereby requests that the mortgagee issue and present for recording a satisfaction piece concerning the mortgage or provide a satisfactory reason why the mortgage should not be satisfied to the party issuing this notice. If you do not comply with this notice, you may be liable for penalties and costs in accordance with the act of December 9, 2002 (P.L.1530, No. 197), known as the Mortgage Satisfaction Act, or the party issuing this notice may be able to satisfy the mortgage without your consent.

Name of mortgagor:

Name of mortgagee:

Name of last assignee:

Date of mortgage:

Amount of mortgage: $

Recorded in County, Pennsylvania, in Book,

Page /instrument number.

Brief description of premises covered by mortgage:

Mortgagee loan number (if known):

Name of party presenting this notice:

Address of party presenting this notice:

Telephone number of party presenting this notice:

(d) Penalty for failure to satisfy.--

(1) If, within 60 days of the mortgagee's receipt of:

(i) payment of the entire mortgage obligation and all required satisfaction and recording costs; and

(ii) the first written request by the mortgagor for the satisfaction piece delivered and in substantially the form described in this section,

the mortgagee fails to present for recording to the office where the mortgage was recorded a satisfaction piece as described in section 5 [FN1] or the mortgage is not otherwise satisfied, the mortgagee shall forfeit and pay to the mortgagor a penalty in a sum not exceeding the original loan amount.

(2) In any successful action to recover penalties pursuant to this section, the mortgagee shall reimburse the mortgagor for costs of the action, including the mortgagor's reasonable attorney fees.

(3) Any action to enforce the provisions of this section, including any action to recover amounts due under this section, shall be brought and maintained in the individual names and shall be prosecuted by persons entitled to recover under the terms hereof and not in a representative capacity.

(4) An action under section 6 [FN2] shall be the exclusive remedy for damages for failure of a mortgagee to issue and present for recording a satisfaction piece.

(5) The delivery of a second or subsequent written request by the mortgagor for a satisfaction piece shall not give rise to an additional cause of action under this section.

CREDIT(S)

2002, Dec. 9, P.L. 1530, No. 197, § 6, effective in 60 days.

[FN1] 21 P.S. § 721-5.

[FN2] 21 P.S. § 721-6.

END OF DOCUMENT

Hope this hleps.
socrateaser, Lawyer
Category: Real Estate Law
Satisfied Customers: 34174
Experience: Attorney and Real Estate broker -- Retired (mostly)
socrateaser and 5 other Real Estate Law Specialists are ready to help you
Expert:  socrateaser replied 1 year ago.

Hello again,

I see that you rated my service as "OK." Experience tells me that customers who rate at this level are generally not entirely satisfied with the service received. If you require further clarification or assistance with this question, please let me know and I will try to help.

Note: Please do not reply to this memo, unless you actually have a follow-up question. Otherwise, the system will force me to respond, even if you are simply saying, "no thanks."

Best wishes.

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