How do you get a release of lien went you are wrapping a mortgage and you have a buyer on a second wrap. If you pay the first lien off and you still have the second lien with years left to pay on the mortgage. The Owner is not around.
The original wrap usually mirrors the underlying loan. When you pay off the underlying loan, there is a release of lien sent to the title company who will record it. At that time, the title company will also file a release of lien showing that your wrap is paid off. The seller is not needed for this.