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If the mortgagee (lender) fails to record a satisfaction within the set time limits, the mortgagee may be responsible for damages set out by statute.
A Satisfaction of Mortgage is a document signed by a mortgagee acknowledging that a mortgage has been fully paid by the mortgagor and that the mortgage is no longer a lien on the property. In order to clear the title to the real property owned by the mortgagor, the Satisfaction of Mortgage document must be recorded with the County Recorder or Recorder of Deeds.
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Who normally pays all the mortgage closing costs in a no cost refinancing situation?
When in a no cost refinancing situation the person who has the mortgage actually pays for them however they are built into the financing or mortgage itself.
Who records a satisfaction of mortgage?
The same local county/parish Registrar or Recorder who recorded the Deed of Trust will record the satisfaction or reconveyance papers. Your mortgage company is responsible for filing the appropriate documentation.
Who pays the mortgage after a divorce?
the one that stays behind.Not the one that moves out
Who pays for mortgage until estate is settled?
The executor of the will would be responsible
Who pays the loan on my mother's house after her death?
The estate pays the cost to maintain the estate. The house may have to be sold if the mortgage cannot be paid. If someone wants the house, they may wish to pay the mortgage.
What happens to the land in a reverse mortgage contract?
In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.
Who normally pays all the mortgage closing costs in a no cost refinancing situation?
When in a no cost refinancing situation the person who has the mortgage actually pays for them however they are built into the financing or mortgage itself.
Is it legal to require a satisfaction for an unrecorded mortgage?
yes
Does satisfaction of lien pays the final judgment?
A satisfaction of lien is filed with the register of deeds after the last payment is made.
Who pays deceased unpaid mortgage?
If there is a will, the executor makes all mortgage payments from the estate of the deceased.
Who records a satisfaction of mortgage?
The same local county/parish Registrar or Recorder who recorded the Deed of Trust will record the satisfaction or reconveyance papers. Your mortgage company is responsible for filing the appropriate documentation.
Is the lender required to sign the satisfaction of mortgage before they get the money?
Of course!
Who gets the money to pay off first mortgage at closing?
The funds from the new mortgage are advanced to your solicitor who pays out the current first mortgage.
Can I file a satisfaction of mortgage at any branch of the registry of deeds?
There are different systems of land records. Some are filed by town and some by county. You must be sure to file the mortgage release in the same registry district where the mortgage was filed. For example, if your mortgage was filed in Franklin County, Massachusetts, the satisfaction must be filed in Franklin County.
Who pays the mortgage after a divorce?
the one that stays behind.Not the one that moves out
Who pays for mortgage until estate is settled?
The executor of the will would be responsible
Who pays the loan on my mother's house after her death?
The estate pays the cost to maintain the estate. The house may have to be sold if the mortgage cannot be paid. If someone wants the house, they may wish to pay the mortgage.
