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shawbee

Equity Loan paid. No paperwork received

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Nearly 3 weeks ago I paid off a home equity loan off from Penfed.  The equity loan has disappeared from online once it was paid, but other than that I have received no paperwork, such as lien removal. How exactly does that work when a loan is paid? Does the trustee get the paperwork. Wouldn't we get a copy of the loan with paid in full? We have a Texas Deed of Trust.

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I have no idea what your terms said but when we paid off our mortgage (serviced by Chase) all we got was a letter saying it was PIF. IIRC the letter arrived about 5 weeks or so after the pay off.

 

3 weeks might not be long enough. You could always call.

Edited by hegemony

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Thanks. That's probably what I will get and just take it to the courthouse to have lien removed from the county records. Good to see you around hegemony:)

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Funny how fast they get back to you when you owe vs paid off.



Many times it’s the counties/city/what ever jurisdiction that the lien is registered in. that can hold up the process not the bank. Each have their own process and some are faster than others.

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