Atlantic Financial Inc.

Review: Back in March 1998 I had some home improvement work done. (new windows) by a company name [redacted] for a price of $15,291.00 so it was finance through Atlantic Financial Inc. somewhere between the date when the work started to the day I paid this loan off. My loan was sold to [redacted] Financial. I paid off this loan in full in May 1998. Now i'm trying to get a loan to upgrade my home and it has a lien on my home from Atlantic Financial that wasn't released back in 1998 when it was paid in full. Atlantic Financial Inc have no back information on [redacted] Financial Inc. Since Atlantic Financial name is on the lien. they can have the lien release. I can move on.Desired Settlement: Release the lien on my home ([redacted] County Circuit Court) land records

Business

Response:

December 2, 2013

Dear **. [redacted],

I am writing in response to complaint #[redacted]. The complaint indicates that he received a loan from our company in March 1998, which he paid off in May ,1998. Today he is having some difficulty with additional financing for his home because the lien from that loan has failed to be released. The requested resolution is for us (Atlantic Financial, Inc,) to provide a letter that releases the lien.

This loan originated with Atlantic Financial, Inc., but was subsequently sold to an investor. Atlantic Financial. Inc. does not hold and service loans. When the customer was making monthly payments and/or paying the off the loan, they were not making the payments to Atlantic Financial, Inc, The company who purchased the loan and who accepted payments (and payoff) of the loan was responsible for submitting paperwork that indicated themself as the holder/servicer. It appears that in this case, it was not done.

We are sorry that this individual is having this difficulty, and we would like to help him move on.

If he could please provide us with a copy of the lien from the [redacted] County Circuit Court Land Records and with his proof that the loan was paid in full, we can write a letter that releases the lien.

We are a seasoned lender and a trusted leader in the mortgage banking and home improvement lending industry. We are diligent in our compliance with the law and strive to meet or exceed our borrowers' expectations. This case is challenging because the loan is over 15 years old (which exceeds the required record retention period) and because The Associates who purchased the loan, is no longer in business, making it nearly impossible to trace.

Regards

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. Thank you for releasing the Lien on my home. I can move on.

Regards,