I got a 2nd mortgage through Wells Fargo Financial in 2002. Right after I got that 2nd mortgage they sold it to Irwin Home Equity. Irwin Home Equity was subsequently bought by Green Tree Servicing. I defaulted on the 2nd mortgage around 2009/2010 and now I am in the midst of a settlement offer with Green Tree in an attempt to get them to release the 2nd lien so I can sell my house with a clean title. A title search revealed that Wells Fargo Financial is still on the 2nd lien. Who is responsible for releasing the lien once I settle the 2nd mortgage debt? Wells Fargo Financial or Green Tree? I want to be sure I haven't been dealing with the wrong entity all this time. Thank you for your assistance.
This is not an uncommon issue. Get them to prove ownership as a condition of settlement. The assignment into Green Tree will need to be recorded in the deed records.
The assignment from Wells Fargo to green tree was never recorded. Green tree will need to jump through whatever hoops are necessary to release the lien as a condition of the settlement (or at least you need to require that).
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Speak with a real estate lawyer about this. You will get a much better explanation than we can logistically provide here.
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