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If the correction is substantial regarding the parties or the property you need to record a fully executed corrective mortgage. If the correction is minor such as the spelling of a name or a date, a scrivener's affidavit can be recorded reciting the correct spelling or date. You need to contact the lender or the attorney who represented you at your closing.
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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.
What is an unreleased mortgage?
An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.
Can you foreclose a mortgage with a copy of the note?
No. You can only foreclose a mortgage if you own it as evidenced by documentation that was recorded in the land records.No. You can only foreclose a mortgage if you own it as evidenced by documentation that was recorded in the land records.No. You can only foreclose a mortgage if you own it as evidenced by documentation that was recorded in the land records.No. You can only foreclose a mortgage if you own it as evidenced by documentation that was recorded in the land records.
Where do you pay discharge of mortgage fee?
If the mortgage has been paid and you receive a discharge from the mortgage holder, it must be recorded in the place where deeds are recorded and the filing fee paid there.
What happens to your mortgage payments and paper work?
Your payments go to the entity that owns the mortgage. The mortgage document is recorded in the land records. The lender keeps the note until the mortgage is paid. In some states such as Connecticut, the note is recorded as well. The mortgagor is given a copy of all the document associated with the mortgage.Your payments go to the entity that owns the mortgage. The mortgage document is recorded in the land records. The lender keeps the note until the mortgage is paid. In some states such as Connecticut, the note is recorded as well. The mortgagor is given a copy of all the document associated with the mortgage.Your payments go to the entity that owns the mortgage. The mortgage document is recorded in the land records. The lender keeps the note until the mortgage is paid. In some states such as Connecticut, the note is recorded as well. The mortgagor is given a copy of all the document associated with the mortgage.Your payments go to the entity that owns the mortgage. The mortgage document is recorded in the land records. The lender keeps the note until the mortgage is paid. In some states such as Connecticut, the note is recorded as well. The mortgagor is given a copy of all the document associated with the mortgage.
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.
What is a recorded mortgage?
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What is discharge of mortgage?
A mortgage grants an interest in the real estate to the lender. Once it is paid in full, a mortgage discharge must be recorded in the land records. A recorded mortgage discharge certifies that the mortgage has been satisfied and releases the interest of the lender in the property and thereby clears the title.
How Do you discharge a mortgage?
If you are the mortgagor, you pay the mortgage off and request a discharge from the record owner of the mortgage if the original mortgage was assigned. The discharge must be recorded in the land records.If you are the mortgagee you can draft a release listing the names of the mortgagors, the date of the mortgage and the recording information and a statement that the mortgage has been satisfied in full. It should be signed by the mortgagees, acknowledged and recorded in the land records. You can also obtain a mortgage discharge at an office supply store, online or visit the land records office and get an example of a recorded mortgage discharge to use as a model.If you are the mortgagor, you pay the mortgage off and request a discharge from the record owner of the mortgage if the original mortgage was assigned. The discharge must be recorded in the land records.If you are the mortgagee you can draft a release listing the names of the mortgagors, the date of the mortgage and the recording information and a statement that the mortgage has been satisfied in full. It should be signed by the mortgagees, acknowledged and recorded in the land records. You can also obtain a mortgage discharge at an office supply store, online or visit the land records office and get an example of a recorded mortgage discharge to use as a model.If you are the mortgagor, you pay the mortgage off and request a discharge from the record owner of the mortgage if the original mortgage was assigned. The discharge must be recorded in the land records.If you are the mortgagee you can draft a release listing the names of the mortgagors, the date of the mortgage and the recording information and a statement that the mortgage has been satisfied in full. It should be signed by the mortgagees, acknowledged and recorded in the land records. You can also obtain a mortgage discharge at an office supply store, online or visit the land records office and get an example of a recorded mortgage discharge to use as a model.If you are the mortgagor, you pay the mortgage off and request a discharge from the record owner of the mortgage if the original mortgage was assigned. The discharge must be recorded in the land records.If you are the mortgagee you can draft a release listing the names of the mortgagors, the date of the mortgage and the recording information and a statement that the mortgage has been satisfied in full. It should be signed by the mortgagees, acknowledged and recorded in the land records. You can also obtain a mortgage discharge at an office supply store, online or visit the land records office and get an example of a recorded mortgage discharge to use as a model.
Can the same 2nd mortgage be recorded on two properties?
Yes, A mortgage can cover multiple properties.
Whether simple mortgage deed is compulsorily registrable?
If you are asking if a mortgage deed must be recorded in the land records the answer is yes. Any encumbrance that affects the real estate must be recorded to protect the interests of the mortgagee. If a creditor recorded a lien on the property and the mortgage had not been recorded the mortgagee would lose their priority and the creditor that recorded the lien would take priority.
What if the subordinate mortgage is recorded prior to the first lien?
The subordinated mortgage is usually recorded prior to the mortgage that is to take first place. That is the reason for the subordination.Suppose you granted a mortgage to Fleet Bank in 2001. That mortgage is not yet paid off and you applied for a new mortgage to Wells Fargo. The Wells Fargo mortgage is approved but Wells Fargo will require that the Fleet mortgage be subordinated because it was recorded first and will take precedence in the event of a foreclosure unless it is subordinated and Wells Fargo is allowed to take first place.The subordinated mortgage is usually recorded prior to the mortgage that is to take first place. That is the reason for the subordination.Suppose you granted a mortgage to Fleet Bank in 2001. That mortgage is not yet paid off and you applied for a new mortgage to Wells Fargo. The Wells Fargo mortgage is approved but Wells Fargo will require that the Fleet mortgage be subordinated because it was recorded first and will take precedence in the event of a foreclosure unless it is subordinated and Wells Fargo is allowed to take first place.The subordinated mortgage is usually recorded prior to the mortgage that is to take first place. That is the reason for the subordination.Suppose you granted a mortgage to Fleet Bank in 2001. That mortgage is not yet paid off and you applied for a new mortgage to Wells Fargo. The Wells Fargo mortgage is approved but Wells Fargo will require that the Fleet mortgage be subordinated because it was recorded first and will take precedence in the event of a foreclosure unless it is subordinated and Wells Fargo is allowed to take first place.The subordinated mortgage is usually recorded prior to the mortgage that is to take first place. That is the reason for the subordination.Suppose you granted a mortgage to Fleet Bank in 2001. That mortgage is not yet paid off and you applied for a new mortgage to Wells Fargo. The Wells Fargo mortgage is approved but Wells Fargo will require that the Fleet mortgage be subordinated because it was recorded first and will take precedence in the event of a foreclosure unless it is subordinated and Wells Fargo is allowed to take first place.
