Release of Mortgage

[Patrick Liska]

Was wondering if i could get some help / advice. I invested some money in a flip and have first lien on the property. the investor has the house under contract and will be closing in two weeks. Their lawyers office contacted me and want me to sign a Release of Mortgage, yet i will not have a check until closing. talking with the lawyers help they said that the money will be held in escrow and released after the closing but is not spelled out like that on this form they want me to sign, i told them i would want that all spelled out in writing. this is the first time i have gone through this with a lawyer involved and all the legal papers. my question is, is it normal to sign this release before the closing or is that usually done after the closing ?