How do I complete a satisfaction mortgage?

How do you get a Satisfaction of Mortgage? A Satisfaction of Mortgage is issued by the lender after they have received the final mortgage payment from the borrower. It's signed by the mortgagee (in the presence of a witness in some states and counties) and then notarized by a registered notary public.

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Alabama Individual Satisfaction Mortgage

Birmingham Alabama Individual Satisfaction Mortgage

Name: Birmingham Alabama Individual Satisfaction Mortgage
Brand: US Legal Forms
Rating: 4.75 (272 reviews)

Category:

Alabama Real Estate - Mortgages and Deeds of Trust

State:

Alabama

City:

Birmingham

Control #:

AL-012-05-CP

Format:

Instant download

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Description

This form is used to release an individual from a mortgage once full payment of the debt secured by the mortgage has bee paid. This form is available in Word and Wordperfect formats.

How to fill out Birmingham Alabama Individual Satisfaction Mortgage?

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FAQ

Upon receipt of the final payment, satisfying a mortgage, the mortgagee (lender) must execute and file a written document acknowledging that the mortgage has been satisfied (i.e., paid in full). This written document must be acknowledged, or proven (i.e., notarized).

How long does it take to discharge a mortgage? Generally it takes between 14-21 business days to complete the discharge process. At one stage it took less time, around 10-14 business days, but these days more people are refinancing their home loan so there are more discharges taking place.

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.

Both a satisfaction of mortgage and deed of reconveyance indicate that the loan has been fully paid and the lien on the property has been released. A deed of reconveyance, however, is typically used in states where a deed of trust is also utilized.

In general, it takes 30 days to receive a satisfaction of mortgage, but it can depend on your state's laws.

How do you get a Satisfaction of Mortgage? A Satisfaction of Mortgage is issued by the lender after they have received the final mortgage payment from the borrower. It's signed by the mortgagee (in the presence of a witness in some states and counties) and then notarized by a registered notary public.

Within 60 days after the date of receipt of the full payment of the mortgage, lien, or judgment, the person required to acknowledge satisfaction of the mortgage, lien, or judgment shall send or cause to be sent the recorded satisfaction to the person who has made the full payment.

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.

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Visit Coleman M Gorham's profile on Zillow to read customer ratings and reviews. I work diligently with each client to help identify the very best loan program available to meet their individual needs.1923Birmingham SATISFACTION . A Satisfaction of Mortgage form provides confirmation that the borrower has paid back the lender and satisfied the terms of the mortgage agreement. Sounds like you're ready to apply. Heads up: this includes a credit inquiry that may impact your credit score. Check it out on Mortgage Bankers Association. Company nameAddressZip codePhone numberNetcash9624 Parkway E35215(205) 836‑5573Easymoney Cash Ctr2168 Green Springs Hwy S35205(205) 801‑9990Aaa Between Pay406 B Y Williams Sr Dr35228(205) 925‑8729View 111 more rows Please send complete wiring instructions to the servicing team when making your escrow disbursement request. Cleveland is a native of Birmingham, AL and a product of the Birmingham City School system.

He was recruited to play football for the University of East Alabama. He graduated with a bachelor of arts degree with a major in political science from the University of Mobile. After receiving his degree, he began his career as a civil engineer with the Federal Highway Administration. His interests and work include: the protection and preservation of our natural resources, the preservation of our natural environments, and the development of state and local programs to improve access to quality education. He has been recognized nationally by the Alabama Council for Excellence in Education and the Southeast Association for Excellence in Education. In addition, he is the Director of the Alabama Department of Commerce's Regional Office in Washington and the President of the Southern Association of Educators. His leadership qualities have been recognized in that he became the only person to have an original piece of legislation passed in either of Alabama's two State Capitol Rotunda.

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Birmingham Alabama Individual Satisfaction Mortgage

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