Mortgage Good Standing Notice: Fill & Download for Free

Mortgage remedies are often governed by Statute and so readers are warned that it will be necessary to speak with a lawyer in your own jurisdiction for actual advice dealing with your actual situation in your specific location. The following is not legal advice that you can rely upon.I can give you a sense of what the answer will be in many common law jurisdictions.Mortgages are in effect security for loan obligations. If you stop making loan payments or if you fail to pay off your mortgage loan when it becomes due, the lender/mortgagee will have the right to sue you as well as to put your home on the market for sale, for example. There are other remedies open to the lender/mortgagee but these are the most commonly used.There are waiting periods and special notice requirements that are put into place to make sure that you are not surprised by these proceedings and to make sure that you have at least a little time to try and refinance your home or otherwise find money to bring the existing mortgage loan into good standing.Until the lender/mortgagee has signed an agreement to sell your home to a third party, there are very often opportunities to bring the debt into good standing or otherwise pay off the loan altogether (if it is due). Most lenders are happy to discontinue mortgage remedies if the loan is brought into good standing and, indeed, many mortgage Statutes require the lender to accept payment and suspend collection proceedings, provided that the lender has not signed a contract to sell your home to a third party.So, in short, yes, you will have a claim to your land for a period of time (not a long period) provided that the lender is paid along with his collection expenses.

Get all the reports you can of your account, if possible this should include a written reason why your account was closed, and no “a business decision” is a type of reason, it is NOT a reason in of itself. By that standard everything a business does is a “business decision”.They MUST give you a guaranteed check (or cash) for the remaining balance across all accounts they closed, minus any LEGITIMATE fees you incurred. They cannot just keep that money unless you actually owe them that money. A shady bank may make up fees after the fact to justify them keeping it, but that won’t fly if you get lawyers involved. And FYI civil lawyers in damage-compensation seeking cases get paid from the money the courts award you if you win.If the bank closed your account because you were constantly overdrafting, resulting in a perpetual negative balance on your account, then I’m sorry but that’s a valid reason. There’s several others, but that’s the most common reason of this happening to a typical bank customer that isn’t doing anything shady.Wells Fargo may be doing better now, but they fell into the “shady” category until recently. The bank was smacked upside the head by some district attorneys and judges about a year ago for doing weird things with customer info like managers opening multiple unauthorized accounts in customer’s names to spike their commissions, then closing them a week later.This was noticed when some customers were denied financial accounts at other banks based on a poor credit rating when their credit should have been in good standing. After requesting a credit report they saw multiple credit cards, mortgages, lines of credit, all opened and immediately closed at Wells Fargo that they didn’t authorize.

So it sounds like your company has decided to purchase an existing business. Regardless of whether the deal is structured as an asset transaction, a stock transaction, or a merger, make sure you know what you are getting into by requiring detailed information from the seller regarding its business operations and finances. The following is a checklist of information and documents you should review.A. Organization and Good Standing.The Company's Articles of Incorporation, and all amendments thereto.The Company's Bylaws, and all amendments thereto.The Company's minute book, including all minutes and resolutions of shareholders and directors, executive committees, and other governing groups.The Company's organizational chart.The Company's list of shareholders and number of shares held by each.Copies of agreements relating to options, voting trusts, warrants, puts, calls, subscriptions, and convertible securities.A Certificate of Good Standing from the Secretary of State of the state where the Company is incorporated.Copies of active status reports in the state of incorporation for the last three years.A list of all states where the Company is authorized to do business and annual reports for the last three years.A list of all states, provinces, or countries where the Company owns or leases property, maintains employees, or conducts business.A list of all of the Company's assumed names and copies of registrations thereof.B. Financial Information.Audited financial statements for three years, together with Auditor's Reports.The most recent unaudited statements, with comparable statements to the prior year.Auditor's letters and replies for the past five years.The Company's credit report, if available.Any projections, capital budgets and strategic plans.Analyst reports, if available.A schedule of all indebtedness and contingent liabilities.A schedule of inventory.A schedule of accounts receivable.A schedule of accounts payable.A description of depreciation and amortization methods and changes in accounting methods over the past five years.Any analysis of fixed and variable expenses.Any analysis of gross margins.The Company's general ledger.A description of the Company's internal control procedures.C. Physical Assets.A schedule of fixed assets and the locations thereof.All U.C.C. filings.All leases of equipment.A schedule of sales and purchases of major capital equipment during last three years.D. Real Estate.A schedule of the Company's business locations.Copies of all real estate leases, deeds, mortgages, title policies, surveys, zoning approvals, variances or use permits.E. Intellectual Property.A schedule of domestic and foreign patents and patent applications.A schedule of trademark and trade names.A schedule of copyrights.A description of important technical know-how.A description of methods used to protect trade secrets and know-how.Any "work for hire" agreements.A schedule and copies of all consulting agreements, agreements regarding inventions, and licenses or assignments of intellectual property to or from the Company.Any patent clearance documents.A schedule and summary of any claims or threatened claims by or against the Company regarding intellectual property.F. Employees and Employee Benefits.A list of employees including positions, current salaries, salaries and bonuses paid during last three years, and years of service.All employment, consulting, nondisclosure, nonsolicitation or noncompetition agreements between the Company and any of its employees.Resumés of key employees.The Company's personnel handbook and a schedule of all employee benefits and holiday, vacation, and sick leave policies.Summary plan descriptions of qualified and non-qualified retirement plans.Copies of collective bargaining agreements, if any.A description of all employee problems within the last three years, including alleged wrongful termination, harassment, and discrimination.A description of any labor disputes, requests for arbitration, or grievance procedures currently pending or settled within the last three years.A list and description of benefits of all employee health and welfare insurance policies or self-funded arrangements.A description of worker's compensation claim history.A description of unemployment insurance claims history.Copies of all stock option and stock purchase plans and a schedule of grants thereunder.G. Licenses and Permits.Copies of any governmental licenses, permits or consents.Any correspondence or documents relating to any proceedings of any regulatory agency.H. Environmental Issues.Environmental audits, if any, for each property leased by the Company.A listing of hazardous substances used in the Company's operations.A description of the Company's disposal methods.A list of environmental permits and licenses.Copies of all correspondence, notices and files related to EPA, state, or local regulatory agencies.A list identifying and describing any environmental litigation or investigations.A list identifying and describing any known superfund exposure.A list identifying and describing any contingent environmental liabilities or continuing indemnification obligations.I. Taxes.Federal, state, local, and foreign income tax returns for the last three years.States sales tax returns for the last three years.Any audit and revenue agency reports.Any tax settlement documents for the last three years.Employment tax filings for three years.Excise tax filings for three years.Any tax liens.J. Material Contracts.A schedule of all subsidiary, partnership, or joint venture relationships and obligations, with copies of all related agreements.Copies of all contracts between the Company and any officers, directors, 5-percent shareholders or affiliates.All loan agreements, bank financing arrangements, line of credit, or promissory notes to which the Company is a party.All security agreements, mortgages, indentures, collateral pledges, and similar agreements.All guaranties to which the Company is a party.Any installment sale agreements.Any distribution agreements, sales representative agreements, marketing agreements, and supply agreements.Any letters of intent, contracts, and closing transcripts from any mergers, acquisitions, or divestitures within last five years.Any options and stock purchase agreements involving interests in other companies.The Company's standard quote, purchase order, invoice and warranty forms.All nondisclosure or noncompetition agreements to which the Company is a party.All other material contracts.K. Product or Service Lines.A list of all existing products or services and products or services under development.Copies of all correspondence and reports related to any regulatory approvals or disapprovals of any Company's products or services.A summary of all complaints or warranty claims.A summary of results of all tests, evaluations, studies, surveys, and other data regarding existing products or services and products or services under development.L. Customer Information.A schedule of the Company's twelve largest customers in terms of sales thereto and a description of sales thereto over a period of two years.Any supply or service agreements.A description or copy of the Company's purchasing policies.A description or copy of the Company's credit policy.A schedule of unfilled orders.A list and explanation for any major customers lost over the last two years.All surveys and market research reports relevant to the Company or its products or services.The Company's current advertising programs, marketing plans and budgets, and printed marketing materials.A description of the Company's major competitors.M. Litigation.A schedule of all pending litigation.A description of any threatened litigation.Copies of insurance policies possibly providing coverage as to pending or threatened litigation.Documents relating to any injunctions, consent decrees, or settlements to which the Company is a party.A list of unsatisfied judgments.N. Insurance Coverage.A schedule and copies of the Company's general liability, personal and real property, product liability, errors and omissions, key-man, directors and officers, worker's compensation, and other insurance.A schedule of the Company's insurance claims history for past three years.O. Professionals.A schedule of all law firms, accounting firms, consulting firms, and similar professionals engaged by the Company during past five years.P. Articles and Publicity.Copies of all articles and press releases relating to the Company within the past three years.