Satisfaction, Cancellation or Release of Mortgage Package - Louisiana: Fill out & sign online

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Who gets the satisfaction of mortgage?

A Satisfaction of Mortgage is issued by the lender after they have received the final mortgage payment from the borrower. Its signed by the mortgagee (in the presence of a witness in some states and counties) and then docHubd by a registered notary public.

Is satisfaction of mortgage same as deed?

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.

What does it mean when a mortgage is released?

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.

What does satisfaction of mortgage mean?

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.

What is a release of mortgage known as?

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.

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