Home Forums Hunting & Shooting Hunter's Campfire What documents to expect when you pay off a house?

I didn’t own a home until quite late in life, now I’m in a position to pay it off.

House paid off, what documents should I expect?

Does the lender send me the title?

Tks.

You should get a release of lien and an original warranty deed.

No, you already have the title and it is called a DEED. The bank, if the purchase was financed, will provide evidence of satisfaction of the Note, and will file a release of the Mortgage in the Registry of Deeds for the county in which you live. I'd then notify the local taxing municipality and your insurance provider as well. Some variation from jurisdiction to jurisdiction but that is the general idea.

Liens should be public record and you can look at the court house, to make sure the lien has been released. At least that is how it works here. miles

A lot of loan ads, I bet!

That's it, frame that fugger, you're a free man Birdie!!!!

Make sure you go to your county recorder and verify release of lein and that the property is titled the way you wish. With the payoff funds you should you should specify how you want the title to read ie. You, joint with wife, trust, llc, etc. There may also be pro rated settlement amount for annual property tax and insurance depending on how it is set up. I paid off a mortgage once and the lender failed to update the county. Took about two months to get it staighted out.

hope to pay mine off this year. Barring no major setbacks I should be able to.

Hah! If it gets done quicker than 2 mos here in south FL, it's a miracle.

The mortgage holder will send you a letter of "Satisfaction" on the loan yet the mortgage holder almost never releases the lien at your local courthouse. You can do this yourself after presenting the letter of satisfaction to your county recorder. BY all means don't lose the letter of satisfaction.....as shi* happens.

If you have an escrow account at the bank set up to pay for insurance and taxes make sure you close that out and are refunded any moneys you have in that account.

Great variation from state to state as to the paperwork involved. Generally, if you got a title insurance policy when you bought the house, that policy remains in effect for your benefit after the house is paid off. You should be able to take the release of lien papers to the title company. The title company will, for a fee, get the release properly recorded in the proper county records and add a rider to the policy showing that you own the house free and clear.

When I paid off the above referenced mortgage it was 6 months later I discovered the lien had not been released/recorded at the county. I had title insurance and going back to them they did that at no cost to me. That process took 2 months.

I got nothing when I paid mine off. After a few months I went to the Clerks office and got a copy of the lien release. Put in the lock box with my abstract copy. Called my insurer when I paid out and let them know mortgage was paid.

Release of lien

Go down to the Registrar’s Office

get it notarized by them and frame it.

I'm sure its different down there than up here, but we didn't get anything. I was a little disappointed to be honest, was hoping for a cool looking document or something. All we got was our last statement from the mortgage holding bank saying the loan was paid.

Well, it’s a milestone that’s for sure.

Tks to all for the info on here, I was able to find the county documents online, I didn’t realize how public this info really is.

Free at last, free at last, good gawd almighty, free at last. Yee Haw, Yee haw, Yee fuuuking haw!!!!