| Done with mortgage, what's next? |
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ukrkoz
Contributing Member
Cash: $ 10.65
Posts: 49
Joined: 04 Nov 2010
Location: seattle
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| Done with mortgage, what's next? |
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Maybe not the right forum to ask, but.
We just paid off our mortgage.
What is next?
I am assuming, that Wells Fargo will mail us some sort of statement, that we take to somewhere and have house registered in our names as legal owners?
How does all this work?
Thank you
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Sun Dec 30, 2012 12:59 am |
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ukrkoz
Contributing Member
Cash: $ 10.65
Posts: 49
Joined: 04 Nov 2010
Location: seattle
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Yes, I have letter ready to be sent to Safeco; I know, and will go there, where county clerk is, as we need to pay property tax in April I believe. I'll make sure I have all papers from Wells Fargo.
So, there should be some sort of an official document stating that we are sole owners of the house and there are no liens attached to it? And we copy it in 10 copies and save in 10 places?
Can you elaborate on this please:
you might be able to save a couple bucks by increasing your deductible now that you don't have to protect someone else's interest in your property.
And last question is: I have paper in front of me saying: loan paid in full; escrow balance $xxxx.xx, does it mean THEY still have that amount to be sent back to us? As next due date is 04/13. I remember when we refi-d our 1st house in TN, we suddenly had $$ coming from everywhere, and a lot.
Thank you
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Sun Dec 30, 2012 3:58 pm |
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ukrkoz
Contributing Member
Cash: $ 10.65
Posts: 49
Joined: 04 Nov 2010
Location: seattle
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yes, my escrow funds are collected ahead of time. as in - for the year to come or, truly, for the payment to come, and were paid twice a year, April and September.
which apparently means that they do have $xxxx in that account to be refunded back to us, and then we turn around and give it to state.
we'll pay tax once a year and forget about it.
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Sun Dec 30, 2012 7:17 pm |
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