Q: I have a loan that needs an Assignment of Mortgage discharged because it was erroneously assigned. Would you know the steps involved in getting an Assignment of Mortgage discharged?
A: Incorrect assignments are abundant in the searches that we review in New Jersey. Though an Assignment of Mortgage does not get “discharged,” there are other steps that can be taken to place ownership of the mortgage into the correct party. The quickest and easiest way is to have the mortgage assigned back to the correct party. Otherwise, a court action would be required to effectively quiet the ownership of the note/mortgage into the proper party.
Under no circumstances is Fortune Title Agency, Inc. or any of its employees giving any legal advice. The Ask Nick Q’s and A’s are based on situations that the company has experienced and is sharing with the public for informational purposes only. Always contact your attorney for any legal advice.