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Mortgages and releases

A mortgage is the lender’s recorded claim. A release is the document that says that claim was closed.

Diagram: title is the stack of recorded rights, starting with the deed.Deed — who owns it of recordMortgage — a lender’s claimLiens and taxes

The recorded amount is not your current balance

The mortgage on file usually shows the original principal, and sometimes a credit line. You pay the balance down over time. The public record often still shows the original number until a release or a satisfaction is recorded.

An assignment means the loan was transferred to another lender. The debt can still be open. A release is the paper that says that particular claim was closed.

What to do

  • After you pay off a loan, ask the lender whether a release was sent to the recorder.
  • If an old mortgage is still open on a search, the release may be missing from the index, or the loan may still be open. A person has to read the document.
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