What happens after you make your final mortgage payment?

How can you prove that you own the house? The mortgage company will have no interest in helping you as you are not a customer any more.

5 thoughts on “What happens after you make your final mortgage payment?

  1. Jeff

    You need to keep a “title” certificate in your safe deposit box. You probably already have one, but it lists the fact that the house has a mortgage. Once the mortgge is paid off, get a new title issued.

    And, you can invite your friends and family over for a “mortgage-burning party”, where you celebrate the fact that you no longer have a mortgage. The centerpiece of the party is literally to burn up your mortgage papers.

  2. queen

    The deed is a recorded document. You get a full reconveyance, a document which you keep in your safe. The lender should do this for you, and if they don’t, call them up and ask for one.

  3. Big Deal Maker

    As Jeff indicated have a mortgage burning party!
    Congrats on paying off your home.
    You will have a deed of trust under your name alone. The cost of filling is minimal. You go down to the recorders office with your payoff papers and transfer the deed into your name alone…Thats GREAT!

  4. Helios

    What!! Did you get to the end of your mortgage?? And if so, congrats. Now go to the county court house and get yourself a deed – a copy of the deed maybe. Put it in your safe – frame it – hang it on the wall.

    I’ve noticed in these last few years that you don’t just get a deed anymore when you pay off your house. It’s weird. I had to put in for them at the county court house and I got some sort of certified copy.

    But mostly, you’ll never be asked to prove you own the house. And if you are there’s plenty of time to get a deed made up. But get one anyway.

  5. therainbowseeker

    The lender should issue and record a release of the mortgage lien on the property.

    After the “mortgage burning” party, you might want to purchase a dumpster or an industrial shredder to handle the ton of junk mail offers you’ll receive from lenders trying to get you back in debt again.

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