Possible to get title cleared?

[Scott Seaman]

Before I waste money talking to an attorney just for them to say nothing can be done I thought I'd ask here in case someone has dealt with something similar. Listing shows "Property can only be conveyed by quitclaim deed, property has dead mortgage lender can not pursue foreclosure only note judgment on buyer." Anyone know a way to clear that? Or why an agent would bother listing it if not?

[Account Closed]

Originally posted by Scott Seaman:

Update - "Dead mortgage lender" was a bank, killed off by FDIC with assets assigned to new bank and mortgage assignment recorded at the courthouse. Bank #2 took owners to civil court in May (not foreclosure), won $300k judgement - then filed a satisfaction of the mortgage in Aug.
I can't imagine why they couldn't foreclose on the assigned mortgage but were able to get a civil judgement for the note or how that leaves the title clouded Scott: what state is the property in? Are the original owners/borrowers still the owners of record and are they trying to sell the property?

It's possible the title isn't clouded, or all that clouded. The mortage lender is not dead. If the lender that was assigned the note was able to get a judgment, they also have the power to release the lien. You say there is a satisfaction of mortgage? So what's the cloud? Ask a title company what they need, not a lawyer.