much less buy something I would not own after paying for it.
I own it. It's deeded to me. It'll just have a forever lien against it. So after I pay it off, if I decide to sell it the lien holder gets paid first off the top. In that case the lien holder would be paid twice for the place and I still could not transfer the place to the new owner.
**Sounds like the above company could not prove you even owe the debt if they can not give title when it is paid off..
Yes that appears to be the case, but it could go the other way... My biggest concern is I pay it off and someday the lien holder comes forward and claims that I never paid them and it's not their fault that I sent my mortgage payments to the "wrong" company and take my home from me anyway. How convenient would it be if by then the collection company that I sent my payments to were "out-of-business" non-existent and I can't sue them to get my money back? And either way how much will it be costing me in legal fees to straighten it all out - the now mess that was once my American dream?