Montana Letter Tendering Payment in Order to Obtain Release of Mortgaged Premises
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How to fill out Letter Tendering Payment In Order To Obtain Release Of Mortgaged Premises?
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FAQ
Receive mortgage documents: The mortgage company will send you a canceled promissory note, updated deed of trust and certificate of satisfaction. These documents prove that your mortgage is paid off. Save them in a secure location.
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Whether you get a deed of reconveyance, a full reconveyance or a satisfaction of mortgage document, it means the same thing: your loan has been repaid in full and the lender no longer has an interest in your property. In short, your home is finally all yours!
A deed of reconveyance is a document that indicates you've fully paid off the mortgage on your home. It represents the transfer of ownership from your mortgage lender to you. Over the time you repaid your mortgage, you legally owned the property, but the lender held the mortgage lien, or claim, to it.
A certificate of satisfaction: Your local recorder or county clerk issues this document showing that you've paid off the loan on your property.
You'll Receive Mortgage Release Documents A declaration that the mortgage has been paid in full. Your promissory note for the loan amount (one of the many documents you signed at your closing), marked as canceled.
Now that the mortgage has been satisfied, you may receive this document back with a ?canceled? or ?paid in full,? though it's also possible you may have to call and request the document. A statement on the paid-off loan balance. Your lender should send you a statement showing that your loan has been paid in full.
A Satisfaction of Mortgage and a Deed of Reconveyance are essentially the same thing.
