This form is a deed of trust modification. It is to be entered into by a borrower, co-grantor, and the lender. The agreement modifies the mortgage or deed of trust to secure a debt described within the agreement. Other provisions include: renewal and extension of the lien, co-grantor liability, and note payment terms.
Deed Of Trust Records Foreclosure In Philadelphia
State:
Multi-State
County:
Philadelphia
Control #:
US-00183
Format:
Word;
Rich Text
Instant download
Description
Free preview
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FAQ
Liens are a matter of public record, so it's simple to find out if there's one on your property, or on anyone else's property for that matter. In most states, you can typically conduct a property lien search by address with the county recorder, clerk, or assessor's office online.
Nonjudicial foreclosures are typical in states that use deeds of trust. If the deed of trust contains a power of sale clause, the lender can foreclose without going to court. Although, the lender might decide to foreclose judicially, even if a nonjudicial foreclosure process is available.
The department files liens in the county Prothonotary's Office where the taxpayer resides or does business. Liens, along with most other court records, are public documents.
A judgment lien can be placed after a creditor wins a lawsuit, and this can occur without direct notice to the property owner. Hidden liens are especially problematic as they are often discovered only when a property title search is conducted during refinancing or sale.
All the documents recorded in the office are indexed and scanned into a computer system. All the documents can then be viewed and/or copied by members of the public or by individuals or entities involved in the real estate industry.
In Pennsylvania, Interested persons can find out if there are any liens on a specific property by querying the local Prothonotary or Recorder of Deeds Office in the county where the property is located.
In California, lenders can foreclose on deeds of trust or mortgages using a nonjudicial foreclosure process (outside of court) or a judicial foreclosure process (through the courts).
In Pennsylvania, lien searches can be conducted by reviewing public records maintained by relevant government agencies, including local Prothonotary Offices or Pennsylvania Recorder of Deeds Offices. Besides mortgages, which are filed in the latter, most liens are filed in the former.
It takes about two to three weeks. The papers are sent back to the person who records them in most cases a Title Company or Attorney. We require a self-addressed stamped envelope if they are to be returned by mail. 7.
Work with a Real Estate Attorney in Pennsylvania In conclusion, transferring a property deed involves several steps that require careful attention to detail. By understanding these steps and seeking the assistance of a real estate lawyer, you can ensure that your property transfer goes smoothly.
