Thank you for that information. I understand wanting to keep anonymity in the matter.
A "lost mortgage satisfaction" basically means at some point the mortgage in question was paid in full and the company responsible for filing the release (OR SATISFACTION) with the county courthouse lost the paperwork without filing it.
When you payoff your mortgage, the records at the county Registrar or Records dept showing that there is a lien against the property must be "released," proving that you now own the property free and clear. This is done through a Lien Release or "Satisfaction of Mortgage/Lien document filed with the same county office where the original lien (mortgage) was filed. That document needs to reference the place and date where the original lien or Deed of Trust
is recorded in their filing system, but if the mortgage company can't locate the original docs or where they are filed, they have to file a "lost mortgage satisfaction" instead.
Basically, this document, if it is stamped and dated by the county recorder, proves that your mortgage is paid-off and you don't owe the bank anything anymore.
So, given what you posted - the lender/lienholder "satisfied" the lien or mortgage against the property and there is no longer that lien or mortgage against the property.
Does this mean they are giving up on the foreclosure and have decided to just write it off as a loss and I will be able to stay in my property?
Answer - the lender satisfied that mortgage and unless there is another filed lien against the property - you own the property "free and clear" of any liens against the property.
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