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Once you pay off your mortgage, the mortgage lender — also referred to as the “trustee” — creates the deed of reconveyance document. The lender then signs this document and has it notarized.
Property deed: This document proves that you are the sole property owner. A certificate of satisfaction: ... After paying off your mortgage, you should notify your accountant.
Paying off your mortgage is a momentous event. But before you celebrate, follow these steps to make sure your loan is canceled and you're...
How long you should keep mortgage documents after paying off your loan varies according to the type of document and how easy it is to get copies if you need them. Trending Now: 5 Types of Homes ...
Mortgage burning was a twentieth-century custom in the United States of America (U.S.A.) that was the ritual incineration of the promissory note (mortgage) upon satisfaction of the payment schedule by the purchaser (debtor, or mortgagor). This ritual was performed to celebrate the release of the debtor from further payment obligations, and was ...
If your mortgage lender never filed a satisfaction of mortgage with the local recording office when you paid off your loan, your mortgage documents could save you from a dispute during a future ...