QUESTION

Who is responsible to submit a mortgage letter of satisfaction to the county deeds office?

Asked on Apr 04th, 2022 on Debtor and Creditor - Pennsylvania
More details to this question:
My original mortgage was taken out in 1987. I refinanced in 1998 and this mortgage has a letter of satisfaction filed in the county deeds office. Apparently, someone did not submit paperwork when the first mortgage was paid off. I need to resolve this issue.
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1 ANSWER

Bankruptcy Attorney serving Collegeville, PA at Nahrgang & Associates, P.C.
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Upon payment of the mortgage balance, the mortgage company is required to satisfy the mortgage.  Normally, the abstract company who conducts the closing assures the same is filed promptly after closing.  That should be your first step, although the company may no longer exist given the passage of time.  If that avenue fails, you must request that the mortgage company satisfy it.  That, too could be an issue for the same reasons.  Fortunately,  there are legal methods to force satisfaction as indicated in the aptly named Mortgage Satisfaction Act. https://casetext.com/statute/pennsylvania-statutes/statutes-unconsolidated/title-21-ps-deeds-and-mortgages/chapter-2-mortgages/satisfaction-of-mortgages/mortgage-satisfaction-act I trust this has been helpful, but feel free to call or email on a free initial basis. Best Regards,   Matthew R. Nahrgang, Esquire 35 Evansburg Road, Ste 400 Collegeville, PA 19426 (610) 489-3041 o (610) 489-3042 fax nahrganglaw.com  
Answered on Apr 05th, 2022 at 6:52 AM

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