Satisfaction, Cancellation or Release of Mortgage Package - Tennessee 2025

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A release of mortgage, commonly known as a discharge of mortgage, is a legal document issued by the lender acknowledging that the mortgage debt is settled. It effectively releases the property from the lien, allowing homeowners clear ownership.
A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loans lien on the property and giving the title to the borrower.
The general rule is that the satisfaction must be in proper written format and recorded to provide notice of the satisfaction. If the lender fails to record a satisfaction within set time limits, the lender may be responsible for damages set by statute for failure to timely cancel the lien.
You can expect to receive these documents in the mail within about 30 days after paying off your loan. If your loan is secured with real estate, a mortgage satisfaction document will be mailed directly to the Register of Deeds for the county in which the mortgage was filed.
A release is synonymous to a satisfaction of mortgage since they indicate the borrower has repaid their mortgage loan in full and the lien on the property has been lifted.
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This law protects consumers against some high-cost mortgage loans and the brokers and lenders who make them. Most traditional mortgage loans have fees of 1 to 2 percent. If fees total more than 5 percent, the new law will trigger stricter regulations and certain fees are capped.

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