Ask Experts Questions for FREE Help !
Ask
    timhull's Avatar
    timhull Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 3, 2010, 01:45 PM
    How do I file a mortgage
    I am buying my parents house. They own it free and clear. They are financing the purchase. I know there are no liens against the house and they have clear title. Should I still purchase title insurance? Also, I will sign a promissory note. Do we need to draw up a mortgage document? If so, where do I get such a document and how and with whom does it get "filed"?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jan 3, 2010, 01:57 PM

    SAMPLE MORTGAGE

    Yes I would prepare a mortgage (see link) and file it with the new deed. If you are fully confident that the property title is clear, have you parent prepare a warranty deed.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Refinanced through mortgage lender who never paid off original mortgage company [ 1 Answers ]

I signed closing papers on June 11 with funding to occur on June 16 for the refinance of my home more than 45 days ago. To date (July 31), my original mortgagor has not received the pay-off from the company with whom I refinanced. Since the papers were signed, two payments have become due (and...

CT mortgage holder vs mortgage owner [ 1 Answers ]

We live in Connecticut. My male friend and I find ourselves in the process of foreclosure on a home we used to live in. I moved out 1.5 years ago and he moved out a month ago. There were "family circumstances" that couldn't be worked out when I left. We can't afford an attorney so we are...

Mortgage payment.Mortgage told me one thing amount and then it was another. [ 1 Answers ]

Okay. I had a mortgage loan modification. Had an agreement with my loan company to make a paymnet of about five thousand dollars.Then I received a letter that instead of the five thousand that covered the months of October and November it was two thousand dollars and one of about two hundred and...

36 hours before I close mortgage company refuses to give mortgage? [ 5 Answers ]

I secured a deal for a home with the owner and got a signed contract a month ago. For sale by owner deal. Secured financing at 95%, with 5 % down. Did financing through a broker, and got a locked in deal with countrywide over 3 weeks ago. All is well, appraised for 100K over what I have...

2nd Mortgage Holder did not file claim [ 2 Answers ]

Our Chapter 13 was confirmed in November 2005. We have a 1st and 2nd mortgage but our 2nd mortgage holder, Charter One, did not file a claim. So only our 1st mortgage is being paid through the plan. Does Charter One still have a lien since they did not file a claim within the 60 day period? ...

View more questions Search