Just Maybe

Oh how good it was to see the sun shining brightly today and warming enough to get more of our snow melted.  In just these past three days, I’ve begun to see all the more potholes opening on our streets and highways.  While driving down South Federal this afternoon, I went over a pretty deep one.  It looks like we’re gonna have to be on the look-out for those nasties that just about send you flying when running over them.

Earlier this morning I received the title work on one of my listings and to my dismay, I found when reading it that the last time it transferred title back in 1998, the bank that received the mortgage payoff an a $100K loan, didn’t file their mortgage release with our County Recorder, which in turn created a cloud on that property’s title.

You can be sure the bulk of my morning was spent going back in time looking for some sort of “tail” I could grab onto and pull this transaction back together.  As with many companies over these 20 years, there’s been buying, selling and merging.  In this transaction’s case, that particular bank was purchased and sold a number of times since that mortgage was paid off in 1998.

I was given the phone number of one of the banks that owned some of the mortgages at that time so I called the person in charge.  Thank goodness she was more than willing to help by offering to research the problem on her end as long as I supplied a copy of the title work in my possession.  As soon as I got off the phone I scanned what I had and emailed it to her with a cover letter of explanation.

I even called the owner of the now closed real estate company which handled that sale, and unfortunately discovered that file was destroyed along with many others from last year’s flooding due to being stored in a basement that ended up waterlogged. Fortunately, I was able to track down the previous seller and reached her by phone.  I’m now hoping that she’ll find what we need in the documents she has in her possession, and that being the mortgage release that the bank likely sent to her instead of our County Recorder.

For some reason, back in those days there were banks that would, in their infinite stupidity, send those mortgage releases back to borrowers instead of their respective County Recorders.  Of course the general public has no idea that releases have to be filed to get them removed lien indexes, so they either get thrown in with their other papers and/or later in the garbage.  Thank goodness nearly all sensible banks don’t do that anymore.

You’re all likely wondering why it took so long to catch this oversight.  Well, when a buyer pays cash and there isn’t a tickler file created by closing agents for lien releases on closed sales, more sooner than later it’s all forgotten until that homeowner either applies for a home mortgage, or the home gets sold and a new lien search performed.  All I can say is, “Thank goodness I found at least two tails to grab onto in hopes one of them will supply what we need.”

The rest of my day was spent showing homes and running errands for clients.  Since I was wearing my winter coat outdoors most of the morning, I was actually getting too warm while having it on, so I left it at my office and went out for the first time in months without it.  Just maybe Spring is on its way.

It seems the bulk of my calls today were to attorneys offices regarding various matters concerning a few files.  Thank goodness they were in and able to speak.  Only one of them I found to be out for the rest of the week.  Since he’s a very hard worker, I’m in hopes he’s enjoying himself somewhere warm and sunny over this period of Spring Break while likely vacationing with his wife and children.

Please don’t think me turning into a religious freak, but my curiosity had me searching last evening for a YouTube video of that hymn I spoke about in yesterday’s article.  I found one that I believe you’ll enjoy as much as I did.  Here’s that YouTube link: If You But Trust in God to Guide You | Fountainview Academy

Tonight’s one-liner is:  The jealous are possessed by a mad devil along with a dull spirit at the same time.

Joe Chodur

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