Describe the process DIY of getting the title deed from the bank after you have fully repaid the housing loan.

Question

Please do not give your answer - "Just get a lawyer."
Would be great if you have done this yourself, and please share the experience and any forms that I would require.
Thanks.

Answer 1

When I have paid off loans on my homes, the bank/mortgage company will usually initiate the process of recording the 'reconveyance' (that's the document that states that you have satisfied the loan) and recording it without any prompting.

It may take a month or two, because the bank/mortgage company has to prepare some paperwork, and then they have to send it to the county to get it recorded. In either of those places, it may take a little while, depending on how backed up they are.

If you feel uncomfortable waiting, or it's been longer than a couple of months, you could call the bank and ask them what needs to be done, as each bank is likely to have their own procedures.

Answer 2

You don't get the deed from the bank. The deed was given to you by the seller when you bought the property originally. What you gave to the bank was a mortgage which was the right to take you to court in the event that you defaulted on the promissory note and take your property away from you.
What you need from the bank, and make sure you get it, is a release of mortgage and that has to be recorded to eliminate the lien on the property created by the note and the mortgage. Any local title company can help you with that.
The title has always vested in you, what you did was give a lender the right to claim an interest in your title in the event of default or failure to meet the terms of the note or the mortgage.
Best of luck

Answer 3

Well, you CAN get a lawyer, but it's not necessary. You don't state where you are, but here in the US, the lender simply mails the darned thing to you after a month or so. No questions asked, and no forms needed.