We have paid off our morgage, what we should do next. I assumed we should change title, but did not know how t

Answer 1

Someone representing the mortgage company will go to court and stamp "Paid on " on the deed of trust, basically ending the security interest. This may happen a few weeks, months (but not more than a year) after the mortgage balance reaches $0.

Answer 2

Why would you change your title?? Paying off the mortgage doesn't change the title to the property, it just removes a lien. If there was a trust deed, you should receive it a few weeks after the payoff. If it was a traditional mortgage, you shoud receive the release certificate in about the same time frame.

Answer 3

Its called a FULL RECONVEYANCE and you do not have to do anything. The lender will sent the paper work to the county assessors office and it will be recorded, just like the loan was. So if someone runs a title search you will have a clear title in your name. You will not receive a deed or a title in your name, it does not work that way anymore. I would check to make sure they have filed it in a couple of months

Answer 4

I'm not sure what you are asking. If your mortgage is paid off, you do not need to change title to reflect that. If you are trying to sell your house, the buyers' lender or the closing attorney will do a title search and verify that the note is paid off.

Answer 5

I believe your mortgage co. should send you a release and you'll need to file it with the register of deeds office (or whatever it is called in your state where you file your deeds). That's all you need to do. The release should be indexed to your deed and everyone who pulls it up for any reason (such as if you were to sell your house, etc.) should know that you own your property outright.

Answer 6

This answer is for assets interior the U. S. (merely in case). with the intention to be 'vested' interior the valuables your Aunt will might desire to sign a supply up declare Deed. you may bypass to any identify organization and that they might desire to be waiting that can assist you with that. to assume the private loan you will might desire to seek for financing with a lender on your call. notice: it's going to be plenty much less demanding so you might refinance in case you do the supply up declare previous to employing for the financing. ideally you will possibly desire to attend ninety days before the refinance, yet there are some lenders that may not require seasoning on identify finding on what variety of refinance you would be doing. As some have mentioned - seek for the advice of a real assets criminal professional and that they might clarify in organic layman words what needs to take place and in all probability take care of ninety 9% of the place of work work for you (the identify area besides). good luck!

Answer 7

The credit company that you used on the house will send paperwork to put your name on the title and will send a copy to the city. You should call them and double check to make sure they are doing it for you.

Answer 8

if your mortgage is paid in full please check with your county recorder's office to confirm this lien has been paid in full and u have a clean title to your property.

Answer 9

You don't have to do anything, except maybe let your bank know you are waiting for ownership papers. This could take months though.