received full payoff, etc. but do I need to do anything else?
2007-10-27 03:30:32 · 4 answers · asked by COblonde 3 in Business & Finance ➔ Renting & Real Estate
The only thing you need to do is make sure the satisfaction of mortgage is recorded in the public records of the county courthouse where the property is located. Lenders are notorious for taking forever to record the satisfaction. Until the satisfaction is recorded, the original loan still shows as "unpaid" on your credit report, and that can affect your credit rating.
2007-10-27 05:19:48 · answer #1 · answered by mcmufin 6 · 0⤊ 0⤋
No. Your new lender will have taken care of the payoff and lien releases needed to satisy the previous lender. All you need to watch for are interest paid statements from both lenders at the end of the tax year for deduction purposes.
2007-10-27 03:59:08 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
If your taxes and hazard insurance was paid by lender through your escrow account, keep an eye out for your refund of that account.
2007-10-27 06:56:55 · answer #3 · answered by Anonymous · 1⤊ 0⤋
No, you should be fine if they have received the full payoff. The only other thing you may want to check on is if they were escrowing for taxes and insurance.
2007-10-27 10:57:19 · answer #4 · answered by Anonymous · 0⤊ 1⤋