An agreement that creates an interest in real property as security for an obligation, such as the payment of a note, and that is to cease upon the performance of the obligation, is called a mortgage. The person whose interest in the property is given as security is the mortgagor. The person who receives the security is the mortgagee (e.g., lender). A release, deed of reconveyance, deed of release, or authority to cancel is used by a mortgagee to renounce a claim upon a person's real property subject to the mortgage.
A Letter Tendering Final Payment of Amount Due Pursuant to a Promissory Note Secured by a Mortgage in order to Obtain a Release of the Mortgaged Premises is a legal document used in the state of Arkansas to facilitate the completion of a mortgage payment. This letter is sent by the borrower to the lender, tendering the final payment required to satisfy the outstanding balance on the promissory note, and requesting the release of the mortgage. Keywords: Arkansas, letter tendering final payment, amount due, promissory note, secured by mortgage, release, mortgaged premises. Types of Arkansas Letters Tendering Final Payment of Amount Due Pursuant to a Promissory Note Secured by a Mortgage in Order to Obtain a Release of the Mortgaged Premises: 1. Arkansas Mortgage Release Request Letter: This type of letter is sent by the borrower to the lender, specifically requesting the release of the mortgage upon the fulfillment of the final payment as outlined in the promissory note. 2. Arkansas Mortgage Payoff Letter: This type of letter is sent to the lender to indicate the borrower's intent to initiate the final payment process, including all accrued interest and any outstanding fees, informing the lender that this payment will satisfy the promissory note and ultimately lead to the release of the mortgage. 3. Arkansas Final Payment Confirmation Letter: This type of letter is sent by the borrower to the lender following the completion of the final payment as stated in the promissory note, confirming that the exact amount due has been paid in full and requesting the lender to release the mortgage on the property. 4. Arkansas Release of Mortgage Acknowledgment Letter: This type of letter is issued by the lender to the borrower as a formal confirmation of the release of the mortgage upon receipt of the final payment. It acknowledges the satisfaction of the debt owed and signifies the termination of the mortgage lien on the property. 5. Arkansas Satisfaction of Mortgage Letter: This type of letter is sent by the borrower to the lender upon making the final payment, formally requesting the satisfaction of the mortgage debt, acknowledging that the debt has been fully paid, and asking for the appropriate filing of necessary release documents with the applicable county recorder's office. These various types of letters serve as official and legal correspondence in Arkansas, documenting the fulfillment of the promissory note and the release of the mortgage lien on the property. They play a crucial role in ensuring the completion of the mortgage payment process and the borrower's ability to enjoy full ownership of the mortgaged premises.A Letter Tendering Final Payment of Amount Due Pursuant to a Promissory Note Secured by a Mortgage in order to Obtain a Release of the Mortgaged Premises is a legal document used in the state of Arkansas to facilitate the completion of a mortgage payment. This letter is sent by the borrower to the lender, tendering the final payment required to satisfy the outstanding balance on the promissory note, and requesting the release of the mortgage. Keywords: Arkansas, letter tendering final payment, amount due, promissory note, secured by mortgage, release, mortgaged premises. Types of Arkansas Letters Tendering Final Payment of Amount Due Pursuant to a Promissory Note Secured by a Mortgage in Order to Obtain a Release of the Mortgaged Premises: 1. Arkansas Mortgage Release Request Letter: This type of letter is sent by the borrower to the lender, specifically requesting the release of the mortgage upon the fulfillment of the final payment as outlined in the promissory note. 2. Arkansas Mortgage Payoff Letter: This type of letter is sent to the lender to indicate the borrower's intent to initiate the final payment process, including all accrued interest and any outstanding fees, informing the lender that this payment will satisfy the promissory note and ultimately lead to the release of the mortgage. 3. Arkansas Final Payment Confirmation Letter: This type of letter is sent by the borrower to the lender following the completion of the final payment as stated in the promissory note, confirming that the exact amount due has been paid in full and requesting the lender to release the mortgage on the property. 4. Arkansas Release of Mortgage Acknowledgment Letter: This type of letter is issued by the lender to the borrower as a formal confirmation of the release of the mortgage upon receipt of the final payment. It acknowledges the satisfaction of the debt owed and signifies the termination of the mortgage lien on the property. 5. Arkansas Satisfaction of Mortgage Letter: This type of letter is sent by the borrower to the lender upon making the final payment, formally requesting the satisfaction of the mortgage debt, acknowledging that the debt has been fully paid, and asking for the appropriate filing of necessary release documents with the applicable county recorder's office. These various types of letters serve as official and legal correspondence in Arkansas, documenting the fulfillment of the promissory note and the release of the mortgage lien on the property. They play a crucial role in ensuring the completion of the mortgage payment process and the borrower's ability to enjoy full ownership of the mortgaged premises.
