Agent

The final house payment

How to ensure money gets processed, documents get recorded
Published on Mar 5, 2007

DEAR BOB: Next month I will write my final mortgage payment check and want to be sure all the related details of paying off the mortgage go smoothly. What steps should I take? --Daphne M. DEAR DAPHNE: Congratulations on writing your final mortgage payment check. Many readers are very envious. Purchase Bob Bruss reports online. Be sure to phone the lender a few weeks in advance to determine the exact amount of your final payment (it may be slightly more or less than your regular payment). Ask how long the lender usually takes to process a final payment and send you either the deed of reconveyance (for a deed of trust) or a mortgage satisfaction (for a mortgage payoff). This timeframe should not be longer than 30 days after the lender receives your payment. Inquire if the lender will record the document clearing your title or if it will be sent to you so you can record it in the county where the property is located. Follow up in 30 days to be certain you received the promissory no...

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