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Old 08-28-2009, 04:29 PM
 
153 posts, read 789,004 times
Reputation: 142

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My house is paid for. I need to prove it to someone for a business reason. Does anyone know how I prove it?

I thought that I show the deed, but the deed does not list who carries the mortgage, so I have no idea how to prove its paid.

Thanks
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Old 08-28-2009, 05:31 PM
 
48 posts, read 179,270 times
Reputation: 38
Default Couple of suggestions

1) You could get a credit report which would show no outstanding mortgage.

2) I don't know if the Wake county web site has this but in other counties you can on line search for liens/deeds against the property. If there was a mortgage there would be a lien. I have used this in other counties to look at forclosed homes to see how many mortages are out on the home.
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Old 08-28-2009, 06:58 PM
 
28,440 posts, read 70,993,486 times
Reputation: 18395
Default You need to have a title search performed...

Quote:
Originally Posted by breezmom View Post
My house is paid for. I need to prove it to someone for a business reason. Does anyone know how I prove it?

I thought that I show the deed, but the deed does not list who carries the mortgage, so I have no idea how to prove its paid.

Thanks
A title search will research the status of any liens. If any are turned up you can ask the lender(s) to provide proof of lien settlement.

btw -- any business venture that needs you to pledge / prove your home is free and clear is almost certainly one to steer well clear of...
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Old 08-28-2009, 07:00 PM
 
153 posts, read 789,004 times
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Yeah I know, dont worry about me. I didnt want to say the exact reason here, because people have seen me post other things before.

I have to show I dont have a mortgage to qualify for an apartment I am goingto rent, so they know I am not also paying a mortgage so they know I have enough to pay for the apartment.

Quote:
Originally Posted by chet everett View Post
A title search will research the status of any liens. If any are turned up you can ask the lender(s) to provide proof of lien settlement.

btw -- any business venture that needs you to pledge / prove your home is free and clear is almost certainly one to steer well clear of...
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Old 08-28-2009, 08:39 PM
 
Location: DFW - Coppell / Las Colinas
31,968 posts, read 36,594,800 times
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Can you pull up your county tax records ? It may show no mortgage.
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Old 08-29-2009, 04:06 AM
 
9,807 posts, read 13,447,720 times
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Why should you have to prove you have no mortgage? That is asking you to prove a negative.

If you state you have no mortgage, it is very easy for them to verify that.

That's like asking a job applicant if he ever had a felony conviction and if he answers no, asking him to prove it .
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Old 08-29-2009, 06:35 AM
 
Location: Wake Forest, NC
835 posts, read 3,621,507 times
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The decalarations page of your homeowners insurance will show no mortgagee. This has been acceptable documentation to underwriters that a property is owned free and clear.
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Old 08-29-2009, 09:34 PM
 
Location: Poteau Oklahoma
25 posts, read 97,869 times
Reputation: 34
Quote:
Originally Posted by breezmom View Post
My house is paid for. I need to prove it to someone for a business reason. Does anyone know how I prove it?

I thought that I show the deed, but the deed does not list who carries the mortgage, so I have no idea how to prove its paid.

Thanks
If the house is paid for then it wont show who carries the mortgage there is none its paid for

#1. your mortgage company should have filed a statement in local county clerks office saying the mortgage was satisfied.

#2. write or call the mortgage company and have them send you a letter stating such.
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Old 08-31-2009, 09:43 AM
 
28,440 posts, read 70,993,486 times
Reputation: 18395
In most jurisdiction the burden is NOT on the lender to file documents stating the lien is satisfied -- it is up to the borrower to have that recorded. A title search while often show old liens, it is up to the title search company to notify the borrower about those and then they have to track down the lender (or the firms that took over the lender...) to get proof of settlement.
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Old 08-31-2009, 12:50 PM
 
359 posts, read 981,773 times
Reputation: 252
Quote:
Originally Posted by marmac View Post
That's like asking a job applicant if he ever had a felony conviction and if he answers no, asking him to prove it .
Happens all the time. Many employers require you submit fingerprints to the state and get a response incidating no criminal record. Some require you to go to local PD and get a clearance.
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