@Tony CastronovoHello Tony,I can totally relate to that and I really appreciate your opinion.

hi kenneth. no, these are not specific to ny. these are guidelines that i followed to get the info i needed. granted, in other states, the " release of lien" or " release of mortgage" may be called something different, but the procedure is still the same. a few years ago, the feds put a limit on the number of foreclosures that a bank could put back on the market. that prompted the banks to put just those better, or more valuable houses up for sale and sit on the less than desireable ones. eventually, the banks come to the conclusion that these " junk houses" not only made their books look bad, but they were never going to get what they needed for them anyway. and, foreclosing costs even more money. so they release the lien. it gets it off their books, and takes away the liability for the house from the bank. yes, it puts it back into the owners lap free and clear, but the bank has to cut the fat somehow. so, they have to file something to release the lein, with the register of deeds or who ever it is done with in their jurisdiction. this is what you want to look for. 

Tony L.

Toni

Tony

@Jason Woodson and @Tony Blanco insuring a rehab with a vacant policy is the equivalent to insuring a car with a motorcycle policy. 

@Tony LinkYou are correct and their are things that can be learned from the Guru's.

Best, Tony

@Tony Castronovo Whenever I purchase Condos, The fee to do the HOA transfer has always been paid by the Seller, it washes out during the Title process and is typically paid by the Title company to the HOA.

Hello tony here's something I found.