Yonkers New York Satisfaction, Cancellation or Release of Mortgage Package

Name: Yonkers New York Satisfaction, Cancellation or Release of Mortgage Package
Brand: US Legal Forms
Rating: 4.87 (335 reviews)

Category:

New York Real Estate - Mortgages and Deeds of Trust

State:

New York

City:

Yonkers

Control #:

NY-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 New York. 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

Transfer of Claim Other Than For Security

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FAQ

Where do I record my Satisfaction of Mortgage when complete? The Satisfaction of Mortgage should be filed with the County Recorder or City Registrar. This will acknowledge and document, that the previously obtained mortgage has been paid in full and there is no longer a lien on the property.

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).

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.

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.

A Satisfaction of Mortgage, also known as a Mortgage Lien Release, is a legal document provided by the mortgagee (financial institution) advising that the mortgage has been paid in full, all terms of the loan have been satisfied and there will no longer be a lien on the property.

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 mortgage discharge happens when you remove a home loan from the title of your property. Usually, when you have a home loan, the lender has the title - or ownership - of your home until the loan is repaid.

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.

Yonkers New York Satisfaction, Cancellation or Release of Mortgage Package

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Yonkers New York Satisfaction, Cancellation or Release of Mortgage Package

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