President and Owner of Access Title Agency, Karen Kohler, walks you through the process in paying off a mortgage:
Whether you are a seller in a transaction, or in a refinance of your existing property, once that mortgage is paid off, Access Title keeps you involved and informed throughout the process. In 98% of our transactions, we do a wire transfer to pay off and satisfy your existing lender. We will then send you confirmation of the wire transfer. As a follow up, Access Title does recommends you contact your payoff lender to make sure they received it and are applying it to your payoff and credit.
1) Original Signed Note, stamped and marked “paid in full.”
2) Original Recorded Mortgage, that was recorded with the land records.
3) Recorded Copy of Discharge, or satisfaction with the mortgage.