Obtaining The Deed

Karen paid off her mortgage and wonders if they should do anything with the mortgage company to get their deed.

QUESTION: Karen in Kansas City paid off her mortgage in July and wonders if they should do anything with the mortgage company to get their deed. It depends on their state, but Dave tells her how things are usually done.

ANSWER: The mortgage company is supposed to file a release for that deed of trust. You’ll receive a copy of that, which has been filed at the courthouse. It usually takes them three or four months. They also typically send you the original note that you signed at closing with “paid in full” or similar on it. That note becomes your property. If “paid in full” isn’t written across it, you need to do that and keep it in a file.