Mortgage Release And

State:
Massachusetts
Control #:
MA-S123-Z
Format:
Word; 
Rich Text
Instant download

Description

This form is for the satisfaction or release of a deed of trust for the state of Massachusetts by an Individual. This form complies with all state statutory laws and requires signing in front of a notary public. The described real estate is therefore released from the mortgage.
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  • Preview Satisfaction, Release or Cancellation of Mortgage by Individual
  • Preview Satisfaction, Release or Cancellation of Mortgage by Individual

How to fill out Massachusetts Satisfaction, Release Or Cancellation Of Mortgage By Individual?

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FAQ

What is the distinction between a release and a discharge? With a release, your creditor confirms that all the sums due have been paid. The document certifies that the property is mortgage-free. The discharge releases only part of the property or only one of the individuals responsible for the mortgage payments.

Once you've paid off your outstanding mortgage debt, the lender must prepare and issue a release of mortgage. This document officially discharges you from the debt obligation and removes the lien against the property.

A Mortgage Release is an alternative to foreclosure and should be considered if: You are ineligible to refinance or modify your mortgage. You are facing a long-term hardship. You are behind on your mortgage payments or will fall behind in the near future.

After you pay off your mortgage, your lender should also return the original note to you. You can also contact the company that paid off your loan to find out if the lien was released. Note that there may be a delay between the time you pay off your mortgage and the release of your lien.

If you have cleared a debt, a mortgage satisfaction document will give you clear title to real property. In other words, mortgage satisfaction is a document that results in release or discharge of a mortgage lien, and indicates that a borrower has cleared his/her debt.

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Mortgage Release And