Helping Homeowners, Realtors, and Real Estate Attorneys
Solve Title Exam Issues.
You are likely to have received an original mortgage discharge after having paid a loan in full. This occurs when you refinance your property, where you get a new loan that pays off an older loan, or when you just finished paying your only mortgage. If that applies to you, Congratulations!! (It must be a great feeling knowing that you own your home free and clear!) For the rest of you, it is only a matter of years to reach the same results.
So, what should you do with the original mortgage discharge?
First, review any correspondence that you may have received from the lender. The letter is likely to provide you very important information. What you want to concentrate on is whether you are responsible for recording the original document with the Registry of Deeds, or City, or County records in your area.
Some banks will send you the original document, and inform you that you are responsible to have the document properly recorded. Others will indicate you are only receiving a copy, and that a duplicate original was sent to the recorder’s office.
If you are responsible for recording the original discharge or release:
- Determine where you need to go to record the document
- Verify the proper fee to record the document with the Registry. (The fee varies from place to place.)
- You can either mail in the original discharge with the recording fee made payable to your specific recorder’s office, or you can just stop by the office if it is located close to where you live.
Some Registry offices will mail the original release after recording to the address listed on the document, whereas others will mail it to whom ever presented it for recording.
What you should do is contact the recorder’s office within a week or two and just verify the discharge was properly recorded. Remember, the recorded mortgage remains a lien on your property up until the moment the discharge is filed with the Registry records.