Paying off a home mortgage loan should be a time for celebration. If you and your spouse own your house outright, you have a very solid investment and a real handle on your personal finances. The final step when paying off your home mortgage loan is obtaining a copy of the property deed. While a mortgage loan is in repayment, the mortgage lender maintains the official deed to the home in its records. Obtaining this deed is fairly simple process.
Request a verification of mortgage statement from your mortgage lender. This statement will show the mortgage rate, payment, amount outstanding and payment history. If your mortgage is paid in full, your VOM will show your old payment, rate and payment history, but it will also show a zero balance on the loan.
Find your mortgage payoff statement. When you paid your mortgage in full, you needed to request a full payoff figure from your lender. This includes a total amount due, including per diem, and a payoff date. This document should be in your mortgage records.
Find your most recent mortgage loan statement indicating a zero balance on your mortgage loan. This will be the monthly statement immediately following your full payoff payment.
Print out a copy of your bank statement reflecting your full payoff payment. To protect your privacy, make sure that you black out bank account numbers, other unrelated charges and other personal information about you and your spouse.
Bring your verification of mortgage, your mortgage payoff statement, your recent mortgage statement and your bank account document to your mortgage loan officer. Provide her with these documents and request the original property deed to your home. Also, to be sure, request a "release of mortgage" statement to prove that the lien on your home is released.
Visit your local registry of deeds department 60 days after you receive your property deed. Research your home address and verify that the mortgage lender released any liens on your home.
Items you will need
- Verification of mortgage statement
- Copy of mortgage payoff statement
- Recent mortgage statement
- Recent bank statement
- Pixland/Pixland/Getty Images
- How to Calculate Payment & Interest
- How to Transfer a Mortgage to a New Owner
- How to Obtain a Home Mortgage With a Structured Settlement as a Proof of Income
- How to Remove Mortgage Escrow
- How to Make an Extra Mortgage Payment for a Tax Deduction
- How to Add Remodeling to Your Mortgage
- How to Deduct Mortgage Expenses on Rental Properties
- How to Calculate Mortgage Interest Using an Amortization Table