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In addition the following information should be included: The Payee Name. The Owner(s) of the mortgage holder. Total amount of mortgage. Mortgage date of execution. Full and legal description of the property to include tax parcel number. Acknowledgement that all payments have been made in full.
A deed of trust is the most common method of securing a lien on real estate in Missouri. Mortgages are rarely used.
A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loan's lien on the property and giving the title to the borrower.
A Certificate of Satisfaction You'll receive your deed and officially be the sole owner of your home. Note that some lenders may send the certificate of satisfaction directly to you. If this happens, you'll need to file it with your local government yourself.
A Mortgage Satisfaction will only be issued on the condition that all other requirements under the mortgage have been met. All documentation should be sent electronically to mtgsatisfact@hpd.nyc.gov. ... MORTGAGE INFORMATION. ... PROPERTY INFORMATION. ... BORROWER / LEGAL OWNER INFORMATION. ... CONTACT INFORMATION (If Different from Above)
SYNOPSIS You collect all your original documents from your lender. Obtain a 'no dues' certificate from your lender. Get lien on property removed. Obtain the updated Non Encumbrance Certificate. Your credit records are updated.
Key Takeaways A satisfaction of mortgage is a signed document confirming that the borrower has paid off the mortgage in full and that the mortgage is no longer a lien on the property.