Need Some Quick Help - Mortgage Satisfaction

[Tom Medwin]

Hi Guys,

I closed on a short sale last month with ASC. They had verbage for no resale for 30 days. So I'm closing this Thursday with my buyer and the title co wants a recorded mortgage satisfaction. It hasn't been recorded yet and I'm hoping to maybe get something from ASC and hope that satisfies the title co. Does anyone know who to call as ASC? I'm figuring their general short sale phone number to start but was hoping someone knew a better route to go. Thanks!!!

[Scott Hubbard]

Originally posted by Tom Medwin:

Hi Guys,

I closed on a short sale last month with ASC. They had verbage for no resale for 30 days. So I'm closing this Thursday with my buyer and the title co wants a recorded mortgage satisfaction. It hasn't been recorded yet and I'm hoping to maybe get something from ASC and hope that satisfies the title co. Does anyone know who to call as ASC? I'm figuring their general short sale phone number to start but was hoping someone knew a better route to go. Thanks!!!

These can take a long time to get. Are you using the same title company that closed the A to C? If not, then you will need to have them contact ASC to get it recorded. Some states have laws in place and they will be able to advise you on this better. Secondly, you can give them a call and request a status report. Tell them your lloking to refinance or something and need the release. Likely they will tell you it is out of their hands becuae it really might be.

-Or-

ASC uses an outside service to record the releases and they are probably back logged. So, take the closing documents from the A to B into the B to C title company and tell them to do their jobs. It is the underwriter for the mortgage company the end-buyer is using who are probably requiring the mortgage release to be recorded. They need to get off their high-horse becuase they would probably be taking just as long.