What Is a Release of Mortgage?
Only the lien holder, in this case your lender, can release its lien on your home. A release eliminates your home as collateral from a mortgage loan. A mortgage loan payoff, including a refinance or sale, is the usual method of generating a release of mortgage lien. While there may be other reasons for releasing a mortgage lien, including a lien filing in error, these releases are rare.
Releasing a mortgage lien often involves two or three signatures. Depending on your state, the person who's given the mortgage, the borrower, and the lender may be required to sign the release. In many states, a notary public signature and, possibly, a seal, is also needed to have a legal release of
lien. States have different signature requirements for lien releases. Some states allow the lien holder -- the lender -- to release the lien on the lender's own signature alone.
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