Irvine California Satisfaction, Cancellation or Release of Mortgage Package

Name: Irvine California Satisfaction, Cancellation or Release of Mortgage Package
Brand: US Legal Forms
Rating: 4.79 (303 reviews)

Category:

California Real Estate - Mortgages and Deeds of Trust

State:

California

City:

Irvine

Control #:

CA-P034-PKG

Format:

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 California. 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. Substitution of Trustee, Request for Reconveyance and Reconveyance;

4. Request for Reconveyance of Deed of Trust by Corporation;

5. Request for Reconveyance of Deed of Trust by Individual;

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

7. Letter to Recording Office for Recording Satisfaction of a Mortgage

Letter to Client - Status Report

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FAQ

Two witnesses to the signature. Notarized and properly acknowledged. Must have a prepared by statement: Prepared by:Individual name & address.

Statement of Satisfaction means a statement issued by Us in respect of a Scope of Works, or a stage of a Scope of Works, setting out the Works performed and any Works outstanding (including rectification of defects), which is to be signed by You if accepted and agreed.

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 fee is a fee charged by the County Recorder's of Deeds office to record the lien release on the property. The Satisfaction fee is included in the loan Payoff Statement. Fees vary by County.

What is a Mortgage Release? A Mortgage Release is where you, the homeowner, voluntarily transfer the ownership of your property to the owner of your mortgage in exchange for a release from your mortgage loan and payments.

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, sometimes called a release of mortgage, is a document that acknowledges that the terms of a Mortgage Agreement have been satisfied, meaning that a borrower has repaid their mortgage loan to the lender.

In general, it takes 30 days to receive a satisfaction of mortgage, but it can depend on your state's laws. In Florida, for example, lenders have 60 days from the time the borrower pays off the mortgage to prepare and record the documentation. For Sheldon's own mortgage, the process took about three weeks.

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).

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View rates, learn about mortgage types and use mortgage calculators to help find the loan right for you. Prequalify or apply for your mortgage in minutes.Their loan and free up that part of their credit line for later use. Refer to applicable plan documents and regulations for details. Get free informational package and learn how to get rid of your timeshare!

Irvine California Satisfaction, Cancellation or Release of Mortgage Package

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FAQ

Does a satisfaction of mortgage need witnesses in Florida?

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What does it mean when a mortgage is released?

How long does it take to discharge a mortgage?

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How long does it take to record a satisfaction of mortgage in Florida?

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Irvine California Satisfaction, Cancellation or Release of Mortgage Package

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