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Deed of Trust A deed of trust is the recorded document by which a lender takes a security interest in a property. It gives the lender the right to foreclose on the property if the borrower does not make payments on the loan.
After the terms of a loan are satisfied, your lender will report your final payment to the major credit bureaus. The loan account on your credit report will be closed and marked as paid in full. Paying off debt will lower your debt to income ratio, docHubly improving your credit score.
A deed of trust is the most common method of securing a lien on real estate in Missouri. Mortgages are rarely used. Deeds of trust commonly include a power of sale provision, which is a faster foreclosure mechanism (see Question 14).
Borrowers who can no longer afford to stay in their home may consider a Mortgage Release, also known as a deed-in-lieu of foreclosure, to avoid foreclosure. This is also a good alternative for homeowners who are unable to sell their property, whether for a full payoff or a short sale.
In addition to these duties (which are the subject of much litigation), only an individual or a domestic corporation (one domiciled in Missouri) may serve as trustee. A foreign corporation may only serve if serving as a co-trustee with a domestic Missouri corporation or an individual who is domiciled in Missouri.
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Once all the money has been fully paid back to the lender a Loan Release Form is created and issued to the borrower relieving them from any liability from the note.
Your Satisfaction is recorded under the names of the borrower/mortgagor on the original loan.
What Is a Deed of Release? A deed of release is a legal document that removes a previous claim on an asset. It provides documentation of release from a binding agreement. A deed of release might be included when a lender transfers the title of real estate to the homeowner upon satisfaction of the mortgage.
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.
Release Property means any Individual Property (other than a Substituted Property) with respect to which the Lien of the related Mortgage has been released (or assigned) by Lender in accordance with the terms of this Agreement.

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