Finance
In New York, a 'satisfaction of mortgage' is recorded when:
AThe property is listed for sale
BThe mortgage loan is paid in full, releasing the lien on the property✓ Correct
CThe borrower refinances to a lower rate
DThe property is transferred to a new owner
Explanation
A satisfaction of mortgage (also called a discharge of mortgage) is a document the lender records when the borrower has fully repaid the loan, releasing the lien on the property from the public records.
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