This means that the escrow paid off the first trust deed using the money from a refinancing. The cancellation of deed to secure debt occurs if a person refinances their mortgage.

It will expire in 7 years if there is no 20 year clause.

This sounds like another way of saying mortgage--the conveyance of property by a debtor to a creditor which, if the debt is not paid, can be kept by the creditor.

Georgia is a "race notice" state and uses a deed as the security instrument for a debt affecting real estate.

What that means is any instrument that affects real property must be recorded in the land records to be effective notice against the world. If a lender fails to record a security instrument and subsequent liens are recorded against the property the subsequent liens take priority. If the error is discovered and the unrecorded deed to secure a debt is later recorded it becomes a junior lien if the borrower defaults.

If the deed to secure the debt was still unrecorded and owner of the real estate conveyed the property by a deed to an innocent third party purchaser that grantee would own the property and the lender would only have a monetary claim against the debtor.

Although the deed to secure a debt was not recorded it is still binding upon the property owner who signed it. This information is general information only. You should seek legal advice before making any changes in ownership.

The first step to move secure debt to unsecure is to get a credit report to see how much unsecure credit you can obtain. Apply for different loans and use the unsecure credit to pay off the secure debt.