Escrow & Title
A Massachusetts mortgage is 'satisfied' when:
AThe property is sold
BThe loan is fully repaid and the lender records a discharge at the Registry of Deeds✓ Correct
CThe borrower makes the first 12 monthly payments
DThe borrower's credit score improves
Explanation
A Massachusetts mortgage is satisfied (paid off) when the borrower repays the entire loan balance. The lender must then record a discharge of mortgage at the Registry of Deeds to remove the mortgage lien from the public record.
Related Massachusetts Escrow & Title Questions
- A Massachusetts deed is acknowledged before a notary public. The purpose of acknowledgment is to:
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