quote:

Originally posted by HuskySig:

quote:

Originally posted by Woodman:
Expect your credit score to drop 25-50 points. You can fiddle with your available credit, credit utilization, and things like that to get the score back up over several months.

Why am I not surprised by this? Credit scores and credit rating agencies are scams.

100%. If he needs a loan for something people will be lining up to give him money because they can still look at income verses outgoing and with no house payment he’s a desirable client, even more so. The banks are in collusion about credit score and we have all fallen for it.

I'm not sure I'd call it a scam, but that term will do until we come up with a better one. What actually happens some of the time is all that money that was paid to the bank is now going into a thing called "savings". I know, foreign to most all these days.

Congrats!

You'll sleep a lot better in your own house now that you don't live in the bank's house.

I wouldn't call the credit score a scam as much as I'd call it a credit cartel. Pay to play.

Less than 1 year left on our mortgage!!!! Can't wait!!

Be sure the release is recorded.

I had a property that the lean holder never recorded the release and it was a real pain to get it released years later after the fact.

Mine took a few months because it goes through government and they are in no hurry.
The bank will sent it in and the county or state (in my state anyway) makes sure there isn't a 2nd mortgage, then sends it to you showing the release of the mortgage lien.

No finer feeling than really owning your home!

Congratulations! It's a liberating feeling isn't it?

Been retired a dozen years on a relatively fixed income so getting the house paod off was mandatory before I could retire. Same with credit card debt...can't have it.

Can NOT imagine how folks live with a big mortgage, car payments and big time CC debt! Couldn't sleep at night.

Congratulations !! Paid ours off last year and the feeling is awesome . Keep up with your taxes and enjoy !

quote:

Originally posted by ensigmatic:
From the other comments, and thanks, y'all, for those, too, it sounds like we have nothing further to do, since the mortgage company is notifying the courthouse that has the lien recorded.

I agree 100% with sig2392 I’d follow up with the courthouse to insure that the release was recorded. If you used a title company and have a relationship, you may be able to get them to do a preliminary title report showing any liens, but going to the courthouse or clerk-recorder (wherever the records are kept in your jurisdiction) is more direct.

quote:

Originally posted by sig2392:
Be sure the release is recorded.

I had a property that the lean holder never recorded the release and it was a real pain to get it released years later after the fact.