Add Checkmark To Legal West Virginia Mortgage Satisfaction Forms For Free

If your lender fails to execute and record a satisfaction of mortgage within the mandated 60-day period, you can file a lawsuit that seeks a court order that either: Directs the lender to execute a satisfaction of mortgage. Extinguishes the lien against the property.

In addition the following information should be included: The Payee Name. The Owner(s) of the mortgage holder. Total amount of mortgage. Mortgage date of execution. Full and legal description of the property to include tax parcel number. Acknowledgement that all payments have been made in full.

Recording Satisfaction: When the amount due on a mortgage is paid off, the mortgagee must acknowledge satisfaction thereof by execution of an instrument in writing, referring to the mortgage, and duly acknowledged and recorded.

A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loan's lien on the property and giving the title to the borrower.

A satisfaction of mortgage, also known as release, cancellation or discharge of mortgage, is a type of legal document that proves you paid your mortgage in full. As a result, it also certifies that the property's title is clear of any liens.

Key takeways. When shopping for a mortgage, ask each lender to detail their requirements, annual percentage rate (APR) and fees. Be prepared to answer questions regarding your income, debt, down payment amount and more. You'll need to back up your answers with documentation.