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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.
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Who pays for satisfaction of mortgage?
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.
How do you find out if a mortgage is paid in full?
Mortgages are recorded on county official public records; and so are the satisfactions of those mortgages once they are paid off. To find out if your mortgage is paid off, you can either research public records in the county that the land securing the mortgage is located in, or you can call the lender and ask them for a the note marked paid in full as well as a copy of the satisfaction of mortgage that they should have recorded. Most counties now have these these public records accessible online and if you do the research yourself, they are free to search.
What is recording information for a Satisfaction of mortgage?
Borrower and Lender Details: Names and contact information for both parties involved in the mortgage agreement. Loan and Property Details: The unique identifiers for your mortgage loan and the specific property associated with it. Verification of Satisfaction: Confirmation that the entire loan amount has been paid off.
What is difference between Satisfaction of Mortgage and discharge of mortgage?
The two phrases refer to exactly the same thing. No need to worry, they have the same legal effect.
Why would a mortgage release be on public record file?
A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.
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.
Regarding a short sale what does satisfaction of mortgage mean?
Satisfies the debt.ClarificationIf you are selling your real property by a short sale, you must discuss the satisfaction of the mortgage with the bank. In some situations the lender can go after you to collect any deficiency, even months after the sale. To avoid that problem you should make certain the bank records a mortgage discharge that includes a statement that the discharge is in FULL SATISFACTION of the mortgage. You should consult with an attorney who will help to protect your interests in the transaction.
Does satisfaction of mortgage mean clear deed?
Yes. The discharge must be from the correct party (the bank who is the present owner of record of the mortgage) and must be recorded in the land records. It must state that the mortgage has been satisfied or some other language to that effect.
Who pays for satisfaction of mortgage?
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.
How do you find out if a mortgage is paid in full?
Mortgages are recorded on county official public records; and so are the satisfactions of those mortgages once they are paid off. To find out if your mortgage is paid off, you can either research public records in the county that the land securing the mortgage is located in, or you can call the lender and ask them for a the note marked paid in full as well as a copy of the satisfaction of mortgage that they should have recorded. Most counties now have these these public records accessible online and if you do the research yourself, they are free to search.
Is it legal to require a satisfaction for an unrecorded mortgage?
yes
Where can I get information on a mortgage I had from 1997 until 2001 from Skipton Building Society?
You can obtain a copy of the mortgage and discharge by visiting the land records office in your jurisdiction.You can obtain a copy of the mortgage and discharge by visiting the land records office in your jurisdiction.You can obtain a copy of the mortgage and discharge by visiting the land records office in your jurisdiction.You can obtain a copy of the mortgage and discharge by visiting the land records office in your jurisdiction.
Is the lender required to sign the satisfaction of mortgage before they get the money?
Of course!
The wife name is not on the security deed so can she still obtain information on the mortgage?
Generally the mortgage will be recorded in the land records. The land records are public records and your wife can check the land records in your jurisdiction to review any mortgages on the property.
What is recording information for a Satisfaction of mortgage?
Borrower and Lender Details: Names and contact information for both parties involved in the mortgage agreement. Loan and Property Details: The unique identifiers for your mortgage loan and the specific property associated with it. Verification of Satisfaction: Confirmation that the entire loan amount has been paid off.
What is difference between Satisfaction of Mortgage and discharge of mortgage?
The two phrases refer to exactly the same thing. No need to worry, they have the same legal effect.
How can you assume your deseased parents mortgage?
That right may be included in the body of the mortgage, which you can review at the land records office. You need to discuss it with the lenderThat right may be included in the body of the mortgage, which you can review at the land records office. You need to discuss it with the lenderThat right may be included in the body of the mortgage, which you can review at the land records office. You need to discuss it with the lenderThat right may be included in the body of the mortgage, which you can review at the land records office. You need to discuss it with the lender
