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Paperwork after paying off a home
Posted on 8/24/23 at 8:34 am
Posted on 8/24/23 at 8:34 am
Shouldn’t I receive some documentation from the mortgage company that held the loan since it’s paid off. It’s been over a year and I got nothing
Posted on 8/24/23 at 8:39 am to Julz5198
You should check and make sure that they filed a release in the courthouse. Sometimes it's a separate document that releases the mortgage, sometimes they just stamp the mortgage with a stamp that basically says 'Mortgage paid in full as of XX/XX/XXXX.
Posted on 8/24/23 at 8:52 am to Julz5198
Just make sure a satisfaction or mortgage is filed. The servicer should do that.
Posted on 8/24/23 at 9:07 am to Julz5198
Yep, you should have gotten a mortgage release, mortgage satisfaction, release of lien, etc. Different parishes/counties call it different names, but all should give you something.
Contact your mortgage company and they should provide an answer pretty quickly on if they forgot to file it or the clerk of clerk never sent you the letter.
Contact your mortgage company and they should provide an answer pretty quickly on if they forgot to file it or the clerk of clerk never sent you the letter.
Posted on 8/24/23 at 9:11 am to Julz5198
What state?
You should: (a) require they return to you the original signed promissory note marked "Paid in Full", and (b) require they record a cancellation of the mortgage (or deed of trust depending on your state) in the parish/county mortgage records to officially cancel and erase the mortgage from the public records.
They should do that automatically, but many times it just slips through the cracks and nobody realizes it until you later go to sell or refinance the house, only to find out the old mortgage is still covering the property and then you're in a scramble to get it cancelled.
You should: (a) require they return to you the original signed promissory note marked "Paid in Full", and (b) require they record a cancellation of the mortgage (or deed of trust depending on your state) in the parish/county mortgage records to officially cancel and erase the mortgage from the public records.
They should do that automatically, but many times it just slips through the cracks and nobody realizes it until you later go to sell or refinance the house, only to find out the old mortgage is still covering the property and then you're in a scramble to get it cancelled.
Posted on 8/24/23 at 10:33 am to Julz5198
The posters above pretty much covered it, but as one of them mentioned, the mortgage company may have already filed the release/cancellation at the courthouse. If they did that, then you're all good and shouldn't need any other documentation. You can try calling the Clerk of Court and asking if they see your mortgage is still open, or try calling the title company you closed with to see if they can look it up for you.
And as others said, sometimes the mortgage companies blow off doing what they're supposed to, so if it is still showing open at the courthouse, get on their arse about cancelling it (or at least sending you what you need to go cancel it)
And as others said, sometimes the mortgage companies blow off doing what they're supposed to, so if it is still showing open at the courthouse, get on their arse about cancelling it (or at least sending you what you need to go cancel it)
Posted on 8/24/23 at 9:55 pm to Julz5198
You need to get the mortgage inscription erased from the courthouse records. You do this by presenting the clerk of court with the original promissory note marked paid.
Sometimes the mortgage company will do this for you. Sometimes they will send you the note so you can do it yourself.
Sometimes the mortgage company will do this for you. Sometimes they will send you the note so you can do it yourself.
Posted on 8/25/23 at 12:19 am to Julz5198
Make sure you let your homeowners insurance company know that you paid it off. They’ll need to take your mortgage company off of your policy. Otherwise, if you make a claim and get cut a check, it’ll be made out to you and your mortgage company.
This was a pita for me after Ida.
This was a pita for me after Ida.
Posted on 8/25/23 at 5:39 am to Julz5198
Mortgage company files cancellation of mortgage at courthouse. While you are there checking on it- - get a copy of your original mortgage and have yourself a good old fashioned mortgage burning ceremony
Posted on 8/25/23 at 5:55 am to Julz5198
Yes, there is a release with the courthouse and you should get a notice. If not, contact them.
Posted on 8/26/23 at 10:01 pm to Julz5198
Same boat here. I had to call them. They will be mailing the paper work to me. What a great feeling!
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