My parents bought a house in 1987 with a loan from World Savings. Then refinanced in 1991 with another bank, and have since paid off their mortgage in full. Recently, they applied for a home equity loan and the title search revealed that World Savings never released the lien from the title. Since so much time as passed, and World Savings and Loan does not exist anymore, what can they do to clear the title? Is going through an attorney the only option?
1 Answer from Attorneys
Don't be so upset about getting an attorney. There are statutory procedures to get a reconveyance, and request attorney's fees for having to go through the hassle. A competent real estate attorney in their area should be familiar with these procedures.