Homebuyers often assume that a real estate sale is complete once they sign on the dotted line or pay closing costs. Real estate professionals know that mortgage lien release can drag out the process for months after a signing.
Lenders are required to issue a mortgage lien release after a debt is paid by a home sale or a loan refinance. However not all lenders treat mortgage lien release as a high priority and it can take weeks or months for a title to be cleared of liens.
In some cases it is necessary to follow up with the lender aggressively to encourage them to go ahead with the mortgage lien release. However with dozens or hundreds of contracts to monitor it can be difficult to stay on top of every case.
Easysoft’s mortgage lien release tracking service allows you to close the customer’s file and move on to other clients, secure in the knowledge that we will keep an eye on the situation and inform you of any changes in the lien. The service costs a nominal fee of $35 per mortgage lien release, and that cost can typically be passed on to the seller or borrower so it will cost your company nothing.
To make this task even easier, our mortgage lien release service integrates directly into our Easy HUD real estate closing software. Order the release tracking right from the client’s page in Easy HUD and then close the file. You can assure your client the lien will be released quickly and you don’t have to waste time and money pursuing the matter with uncooperative lenders.
Follow up is just as easy as ordering. Monitor our mortgage lien release results in Easy HUD as easily as you check any other task during closing. We will notify you when the mortgage lien release is filed and link you directly to the payoff document. You can quickly update your records and notify the client.