Included in your package are the following forms:
1. Assignment of Deed of Trust by Individual Mortgage Holder;
2. Assignment of Deed of Trust by Corporate Mortgage Holder;
3. Letter of Notice to Borrower of Assignment of Mortgage;
4. Letter to Recording Office for Recording Assignment of Mortgage;
Philadelphia Pennsylvania Assignment of Mortgage Package refers to a set of legal documents that enable the transfer of a mortgage from one party to another within the jurisdiction of Philadelphia, Pennsylvania. This package is essential when a property owner decides to transfer their mortgage or sell their property to another individual or entity. The Assignment of Mortgage Package typically consists of various documents that outline the terms and conditions of the mortgage transfer, ensuring a smooth transition of ownership. These documents may include: 1. Mortgage Assignment Agreement: This document serves as the core agreement that legally transfers the rights and obligations of the mortgage from the assignor (current mortgage holder) to the assignee (new mortgage holder). It includes details such as the names and addresses of both parties, the mortgage being transferred, the outstanding balance, and the terms of the assignment. 2. Mortgage Assignment Deed: This deed confirms the transfer of the mortgage from the assignor to the assignee, binding this change in ownership officially. It is recorded in the county's land records to establish a public record of the mortgage assignment. 3. Notice of Assignment: This document notifies the borrower that their mortgage has been transferred to a new party. It informs them of the assignee's contact information and where to make future mortgage payments. 4. Mortgage Schedule: This document includes comprehensive details about the mortgage, such as the loan amount, interest rate, payment schedule, and any penalties or fees associated with the loan. 5. Affidavit of Sale: If the mortgage assignment is part of a property sale, an affidavit is often included to certify that the property's sale is a legitimate transaction. 6. Proof of Recording: This document serves as evidence that the Assignment of Mortgage Package has been officially recorded with the appropriate county authorities. It is worth noting that while the general structure of the Assignment of Mortgage Package remains consistent, specific variations may exist based on individual circumstances or legal requirements. For example, if the mortgage is being transferred as part of a foreclosure process, additional documents specific to foreclosure proceedings may be included. In summary, the Philadelphia Pennsylvania Assignment of Mortgage Package encompasses a collection of documents necessary for the legal transfer of a mortgage from one party to another within the Philadelphia jurisdiction. It ensures the smooth transition and proper documentation of mortgage ownership changes in compliance with local laws and regulations.
