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ConLaz · Joined: 16 Oct 2006 Posts: 1 1.23 Dollars($)

Is there a law in NYS that specifies the length of time a mortgage holder has to issue a release for a mortgage that has been paid off? It has been nearly five months and I have nothing beyond a reciept from the mortgage holder indicating that it has been paid off.

mcole · Posted: Mon Oct 16, 2006 7:48 am Post subject:

I'm not sure if NY is any different, but typically it's 30 days. I would definitely follow up on this as soon as possible.

Cool

colin · Posted: Mon Oct 16, 2006 10:50 am Post subject:

Hi,

Normally the lender will provide you with a document called, release of mortgage or satisfaction of mortgage.

You should also contact the county recorder's office and check whether the lender has recorded the release there or not.

Thanks
Colin

sara

Hi,

I have heard that a borrower gets the satisfaction or release of mortgage document within 45 days of paying off the loan in full.

Thanks,

Sara

Guest

In New York, it is the borrower's liability to obtain the release of mortgage document and get it recorded in the public records.

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Mortgage pay off question in NYS