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Updated over 4 years ago on . Most recent reply

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Shane Bowling
  • Dayton Ohio
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Old unpaid mortgages on quit claim properties.

Shane Bowling
  • Dayton Ohio
Posted

I may be about to get 5 properties quit claim over to me and if I do I am going to get them free and clear via quiet title. The workaround I need is I think some or all of them have small mortgages on them that the owner hasn't paid on and the mortgage company never foreclosed on. Maybe 12 years. How do I get rid of these mortgages? I think the main thing I'm concerned about is fixing them up and then they become desirable to the mortgage company again but it's not my mortgage even though everything else is. I'm in Ohio. 

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Marc Winter
  • Real Estate Broker
  • Northeast PA
2,659
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Marc Winter
  • Real Estate Broker
  • Northeast PA
Replied

Start by getting a title report on each property, then contact your real estate attorney to review the titles.  Probably best to have your attorney start Quiet Title actions.  Once those are completed, you'll have clear title and can do what you wish with the properties.

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