Philadelphia Pennsylvania Mortgage Note

Name: Philadelphia Pennsylvania Mortgage Note
Brand: US Legal Forms
Rating: 4.56 (448 reviews)

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

County:

Philadelphia

Control #:

US-03108BG

Format:

Instant download

Description

A mortgage note is a promissory note promising to repay a specified sum of money plus interest at a specified rate and length of time to fulfill the promise. The collateral for the Note is a Mortgage. While the mortgage itself pledges the title to real property as security for a loan, the mortgage note states the amount of debt and the rate of interest, and obligates the borrower, who signs the note, personally to be responsible for repayment. In foreclosure proceedings in certain jurisdictions, borrowers may require the foreclosing party to produce the note as evidence that they are the true owners of the debt.

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FAQ

Individuals can record a document by mail or in person. Businesses can also record documents, and have the option to record documents electronically through a third-party recording service. The most commonly recorded documents by individuals are deeds.

All deeds made in the state to be acknowledged and recorded within ninety days.

Recording requirements in Pennsylvania require that all mortgages presented for recording must have the signature of the holder, owner, assignee on any mortgage presented for recording. The document should contain the full name, residence (including street number) and the address of such holder, owner or assignee.

All papers recorded in the office are public information, with the exception of military discharge papers. This means anyone can come in and look at any deeds or mortgages.

You must make an appointment to record documents in person. Email appointments.records@phila.gov to schedule. Hours of operation: Monday through Friday, 8 a.m. to 4 p.m. You must be in Room 111 by p.m. to have your document recorded that day.

Although a deed is always binding on the parties involved with the transfer, it is not binding on anyone else unless it is recorded in the office of the Recorder of Deeds in the county where the property is located. In some areas, a recorded deed must also be registered with the local municipality.

Currently, the fee for filing the deed, which distributes the house from your Mother's estate into your own name, is $252.00. This amount is comprised of: $107 (Filing Fee), $107 (Philadelphia Housing Trust Fee), $. 50 (State Writ Tax), $2.00 (Philadelphia County Fee) and $35.50 (Access to Justice Fee).

Documents submitted for electronic recording are typically received back recorded within 1-2 days after submission. Counties that do not record electronically, such as Delaware and Chester County, PA, take 3-4 weeks to return recorded documents. Original recorded Deeds will be mailed to Grantee address provided.

Philadelphia Recording Fees Revised DEED Recording Fee$107.00State Writ Tax$0.50County Fee$2.00Access to Justice Fee$40.25Total$256.751 more row ?

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6 Note that TILA and RESPA differ in their terminology. To fill out the request form.Mortgage: This is the document that gives the lender a security interest in the property until the Note is paid in full. They can't sell the property or take out a home equity loan. Jumpstart West Philly. Click on the interactive map. Pick up a form at the circulation desk of the Greenfield or Music Library, fill it out and hand it in. Is There A Fee For The Ill Service? Note that in some situations, the lender may provide express written permission in the loan agreement for additional debt, such as subordinated financing (i.e.,. We even cater to those with less-than-perfect credit.

Philadelphia Pennsylvania Mortgage Note

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How do I record a deed in Philadelphia?

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