Alabama Satisfaction, Cancellation or Release of Mortgage Package

State:
Alabama
Control #:
AL-P034-PKG
Format:
Word; 
Rich Text
Instant download

Description

With this Satisfaction, Cancellation or Release of Mortgage Package,you will find the forms and letters necessary for the satisfaction or release of a mortgage for the state of Alabama. The described real estate is therefore released from the mortgage.


Included in your package are the following forms:



1. Satisfaction, Release or Cancellation of a Deed of Trust by a Corporation;

2. Satisfaction, Release or Cancellation of a Deed of Trust by an Individual;

3. Letter of Notice to Borrower of Status of Mortgage;

4. Letter to Recording Office for Recording Satisfaction of a Mortgage
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How to fill out Alabama Satisfaction, Cancellation Or Release Of Mortgage Package?

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Simply download the example from our site, complete it, and request a lawyer to authenticate it.

Doing so can significantly reduce time and expenses compared to seeking an attorney to create a file entirely from the beginning tailored to your specifications.

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  6. Verify and ensure that you’re acquiring the correct state-specific form.

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FAQ

You may contact us at (407) 836-5115 to request a search of your Satisfaction of Mortgage. You may also utilize our web site (www.occompt.com) to see if your Satisfaction has been recorded. Your Satisfaction is recorded under the names of the borrower/mortgagor on the original loan.

If a lender takes longer than 90 days to record it, they can be charged up to $1,500 in penalties. So, in theory, a satisfaction should be recorded within 30-90 days of payoff regardless of what state you work in.

Once you've paid off your outstanding mortgage debt, the lender must prepare and issue a release of mortgage. This document officially discharges you from the debt obligation and removes the lien against the property.

Step 1 Identify the parties. The appropriate parties should be documented on the Satisfaction of Mortgage. Step 2 Fill and Sign. The Satisfaction of Mortgage should be signed by the mortgagee, after it has been issued. Step 3 File and Record the Form.

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Alabama Satisfaction, Cancellation or Release of Mortgage Package