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#448568 - 10/30/15 10:24 AM Lender out of country. Want to sell property *****
atidbit Offline
Junior Member

Registered: 10/30/15
Posts: 2
Loc: San Francisco, CA
I have an individual lender who holds the mortgage to my property and he is currently out of country. I am totally up to date with payments and would like to sell this property.

Can I go ahead and initiate this sale and in the process, will they automatically send necessary paperwork to the to my lender at the address to which I've been sending payments?

I've been unable to contact this lender personally.

#448569 - 10/30/15 11:35 AM Re: Lender out of country. Want to sell property [Re: atidbit]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7805
Loc: Vermont's North-East Kingdom
I'd imagine that those fine points are detailed out within the Terms and Conditions of your Mortgage Deed and/or the Mortgage Note; both of which you should have copies. To get a head start, take a moment to read them; you signed them both when the Mortgage was originally granted.

Is the Lender a Corporation which would have a Process Agent in California; or is it an Individual? If it was a Business, and if it's not in the Land Records, your Secretary of State will have the current legal address for having the Mortgage discharged if and when that time comes.

Does your Mortgage contain a Pre-Payment Penalty ?

Forewarned is Fore-Armed !
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

#448570 - 10/30/15 12:42 PM Re: Lender out of country. Want to sell property [Re: Vermont]
atidbit Offline
Junior Member

Registered: 10/30/15
Posts: 2
Loc: San Francisco, CA
The lender is an individual. I'll have to find and review the documents. In terms of Pre-Payment Agreement, I imagine it was pretty standard. The loan occurred over twenty years ago.

Thank you for your help.

#448574 - 10/31/15 02:17 AM Re: Lender out of country. Want to sell property [Re: atidbit]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2251
Loc: Outer Banks
Most likely, that lender is no longer involved with your loan. Go ahead and start the process to sell your house. When you get close to the closing your escrow agent will contact the current lender for the payoff amount.
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

#448722 - 11/07/15 11:41 PM Re: Lender out of country. Want to sell property [Re: atidbit] Offline

Registered: 11/07/15
Posts: 10
Loc: investorwize
I agree. You are the owner of the property and should have the right to sell whenever you want. Just make sure your property is worth more than the mortgage due.
If your looking to sell your house fast you can try
or homevestors

#448776 - 11/10/15 03:17 AM Re: Lender out of country. Want to sell property [Re: atidbit]
InvestCaribbean Offline
Junior Member

Registered: 11/10/15
Posts: 1
Loc: NYC
Invest Caribbean Now, the global private sector Caribbean investment agency, is seeking partnerships with direct lenders and investors doing business in the Caribbean region.
If your company offers low interest debt or equity capital of US$3 million and up for land deals and building of Multi-family, condo, office, retail, hotel, industrial and mixed-use, properties in the Caribbean then we are your partners. For more contact us today


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