Paying off private lender that has lien on property

[Dan M.]

I am close to making my final payment to my private lender that financed a deal years ago. He has a lien on the building and I'm wondering what processes need to happen when my debt is paid off to drop the lien, get the deed, etc. The property is in PA

[Andrew Postell]

@Dan M. yes, if it is someone with no experience with this type of thing you might have to request these docs directly.  Mortgage Release or Mortgage Satisfaction docs. Your lender will file a certificate of satisfaction with your county government, which releases the home's deed to you and indicates that you are now the sole owner. That is, if they have experience with this type of thing (like a Hard Money Lender would do this automatically). Ask your lender if they will do this for you. If they will, be aware that it can take a few weeks or months for it to be filed. Once your lender has told you they've filed the documents, contact your local records office to confirm that their records show your mortgage has been cancelled.

If your lender says they don't file it for you, you can file it yourself—just check with your local county clerk or registrar to find out what the process entails.