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A deed of reconveyance, also known as a satisfaction of mortgage, is a document that proves you've paid off your mortgage. The deed of reconveyance releases the lien the mortgage lender placed on ...
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...
Paying off your mortgage means that you have 100% equity in your home and no longer have to make monthly loan payments to your lender. ... promising to pay back the amount of your mortgage. The ...
In the normal progression of a mortgage, payments are made according to the loan documents until the mortgage is paid in full (or paid off). The lender holds a lien on the property, and if the borrower sells the property before the mortgage is paid-off, the unpaid balance of the mortgage is paid to the lender to release the lien.
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 ...
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 ...
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