By Tammy Engel
Mortgage Advisor
Don't fall for it!
Mortgage Matters
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After you’ve done a new home loan, your mailbox gets stuffed with all kinds of mail. Anything you receive from your lender would be important, of course, as would anything from the local county tax assessor or recorder.
But what about all the other stuff? It sure looks official, with pictures of seals and barcodes. Here is just one example of mail that looks like it needs attention, but is really best shredded.
“Recorded Deed Notice”! “First Documents recommends that all CA homeowners obtain a copy of their Current Grant Deed and Property Assessment Profile. These documents can provide evidence that your new home was in fact transferred and/or has interest in your name.”
“A Property Assessment Profile provides a wealth of information useful to understand a subject property’s makeup. This important report includes a Tax assessed value, Tax delinquency, Area Comparable values, legal description, current owner information and parcel ID number. This report will return all pertinent property and owner information for the designated property.”
Two of these “urgent” notices were received by a recent home buyer from different companies. One needs your check for $89.00, the other charges a processing fee of $83.00.
The homeowner was wise enough to notice a disclaimer on these forms: “This service to obtain a copy of your deed or other record of title is not associated with any governmental agency. You can obtain a copy of your deed or other record of your title from the county recorder in the county where your property is located for a nominal fee.”
Well guess what?! This homeowner was given the recorded grant deed along with his closing statement from the escrow company. There was nothing at all to be done.
And during your loan closing process, you were given a title report and an appraisal that has way more information than any ‘property assessment profile’.
When in doubt, get your mortgage advisor’s opinion before throwing mail like this away – but read closely and be discerning before you send any money based on mail solicitations.
Tammy Engel is your local Mortgage Advisor and has been certified by USA Cares as Military Housing Specialist. Contact her at 661/822-7325 for help with purchase, refinance, and reverse mortgage.
