meskinct
This space for rent
Premium
join:2002-01-07
Danbury, CT
clubs:
 ·Comcast
edit:
September 18th, @04:06PM
| Release of Mortgage?
OK so I'm confused. I just paid off my mortgage (Hooray!)
In order-
1. I call the bank/mortgage company and ask them how much to pay off the note.
2. They give me a large number back.
3. I go hand them a large check and get a small receipt.
4. A week and a half later I get a large envelope in the mail which contains -
• A copy of my original bank paperwork.
• A check from the bank saying I overpaid them by $600 someodd bucks (you think a bank could do the proper math)
• An official looking document 'Mortgage Release' along with a letter saying I need to file it with the City of Danbury and it will cost me $43
So I don't get it. Why do I need to file this and what's the $43 for? $43 to stick something in a file cabinet or check a box that says released on a computer?
Shouldn't my mortgage company have taken care of this? They put the lien on the title and should the be responsible for removing it?
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Rich. My Website |
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Nightwing
Ouch
Premium
join:2002-04-08
North Franklin, CT | My guess is that is a filing fee and you get the deed to the house. Congrats by the way.  |
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ctgreybeard
Cars It's How We Get Around
Premium
join:2001-11-13
Bethel, CT
clubs:  | reply to meskinct
Interesting, I also paid off my mortgage in the last month and had the same $43 fee deducted. I haven't seen the deed yet.
Bill W
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Old dogs can learn new tricks! |
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meskinct
This space for rent
Premium
join:2002-01-07
Danbury, CT
clubs:
·Comcast
| reply to Nightwing
said by Nightwing  :My guess is that is a filing fee and you get the deed to the house. Congrats by the way. That sounds right. Just wonder why the bank couldn't handle sending this to the Town Clerk.
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Rich. My Website |
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pandora
Premium
join:2001-06-01
Outland |  reply to meskinct
I can't help with your questions, but I do want to say
CONGRATS! |
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meskinct
This space for rent
Premium
join:2002-01-07
Danbury, CT
clubs: | Thank you. Now my only debt is to the mob so Vinny 'The Chin' doesn't break one of my legs.
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Rich. My Website |
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gregamy
join:2003-05-22
Middletown, CT
 ·AT&T DSL Service
| said by meskinct :Thank you. Now my only debt is to the mob so Vinny 'The Chin' doesn't break one of my legs. Congrats!
Actually, your primary debt now is the "rent" paid to the city for property taxes; YOU now get to write that semi-annnual check to the city.
You think "Vinny" is tough on debt in arrears? Try a city scrambling for property taxes. Don't forget you're now covering that nut, ain't nobody taking in cash on escrow any more...I recommend setting up a 1/12 monthly (or even 1/52 weekly for additional interest income) auto-transfer from your checking to a good, solid, FDIC-insured savings account. Then smile that big smile in July and January when you send it off... |
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pandora
Premium
join:2001-06-01
Outland
·Comcast
|  Danbury does tax payments annually or quarterly. You can pre-pay the entire year at any time. If you are late with a quarterly payment, you get a nasty arrears bill.
meskinct make sure to pay your property taxes, and make sure they are up to date. It is your problem now 
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"People demand freedom of speech as a compensation for the freedom of thought which they seldom use." |
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meskinct
This space for rent
Premium
join:2002-01-07
Danbury, CT
clubs: | Taxes? I haven't paid those in years....   |
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billh491
join:2001-08-09
Pomfret Center, CT | reply to meskinct
You might want to tell your insurance agent as well.
Also just because you have a mortgage does not mean you have an escrow account. I don't I pay my tax and insurance my self. |
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Grumpy
Premium
join:2001-07-28
99999
clubs: | reply to meskinct
Can't wait 'til my mortgage is gone. We'll have a big party.
Everyone mark their calendars -- Feb 30th, 2099. |
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