Seek legal advice on what to do. If the mortage was not paid off the lien exists. It is unclear how the deed came to be in another person's name. I am assuming two people were on the original deed and one on the mortgage, since you can not transfer a clear title without paying off all liens such as mortgages. Usually lenders require all parties on the deed to be on the mortgage. If this second party was added after the original purchase, then the lender-as another agent stated- could have accelerated their demand and made the mortgage due in full at that time (most mortgages have verbiage addressing this scenario). That being said, foreclosure is a very real possibility. Not being lawyers, Realtors cannot give legal advice...but reccomend you seek it out. The laws vary from state to state. Good luck.
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
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