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Is a mortgage discharged when renewing mortgage?

Answer:
If you refinance your mortgage, the attorney representing the bank will use the proceeds of the new mortgage to pay off the existing mortgage and a discharge of that mortgage will be recorded in the land records. You must make certain you ask that question at the closing before you sign anything.
First answer by Kluss. Last edit by Kluss. Contributor trust: 696 [recommend contributor recommended]. Question popularity: 1 [recommend question].

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