Posted by lulu on 5/2/06 7:56pm
Msg #117314

Recording Mortgages-Does anyone do this?

Once I had a loan where they asked me to take the mortgage to the court house for recording. Is this something anyone does as well as SA work?

Reply by LisaWI on 5/2/06 8:16pm
Msg #117319

Anyone correct me if I am wrong but I believe Charm has done this before. She isnt feeling very well right now though.

Reply by NCLisa on 5/2/06 8:30pm
Msg #117323

I've recorded.

I've done title abstracting at various attorney's offices here, so I know what I'm doing. If they ask you to update, you will need to check the indexes to make sure nothing knew has been recorded sine the last "search thru" date. If they want you to record without updating, make them put in writing that you are to record without updating and you are not liable for any title problems that may arise. The average fee that we paid our abstractors for recording was $25.00 and $35.00 to update and record.

Reply by lulu on 5/2/06 8:57pm
Msg #117329

Re: I've recorded.

I appreciate the responses and advise. I'm not familiar with it but thought I saw someone advertising on their site that they record mortgages. I think in Iowa they are mailed to the courthouse and mailed back so I'm not sure of the advantage. Just wondered if anyone does this on a regular basis. I'll keep the updating thing in mind if I end up doing any. Thanks a bunch.

Reply by Marlene/USNA on 5/3/06 8:08am
Msg #117360

The advantage is. . .

. . .getting it recorded first, before anyone else has a chance to put a claim to the property ahead of yours. If there's a default, people stand in line to get paid according to who filed when.

Reply by lulu on 5/3/06 9:25am
Msg #117386

Re: The advantage is. . .

Hi Marlene,
Are you referring to mortgages or other liens like mechanics liens? I guess one would still want to get the mortgage recorded before any unforeseens come about. Thanks.

Reply by Marlene/USNA on 5/3/06 9:56am
Msg #117404

Any and all claims. . .

The lender, of course, would like to be first!

Reply by BrendaTx on 5/3/06 9:09am
Msg #117375

Re: I've recorded. NCLisa

Lisa - I have an application on my desk and wanted to make sure I had the right $$$ listed. THANKS for your input.