Q: I refinanced my home which had a Covid modification attached. The lender states they paid the mortgage and modification
In the refi, but the county recorder still,shows the modification
A:
The land records in Virginia, recorded in the Circuit Court for the county or city where the property is located, show an entire history of the transactions concerning the property. Past transactions are not removed, or replaced, by the most recent transactions.
A refinance loan would be evidenced in Virginia by a new deed of trust and a certificate of satisfaction referencing the trust securing the note that was paid off. In addition, the borrower should receive the original promissory note endorsed as paid in full. In the event a certificate of satisfaction is not filed, there is a process a real property owner can use to compel the production and recordation of a certificate of satisfaction.
Anyone concerned about the evidence of the payoff of a loan should consult with an experienced Virginia real estate lawyer.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
