What happens when mortgage is paid off? Once your lender receives the final payoff amount from you, the loan is paid off in full. ... The release, once recorded, gives notice to the world that you have paid off the loan and that the lien the lender attached to the property when you got your mortgage is no longer valid.
Can I refinance my mortgage with no closing costs? Mortgage Guide The good news: You can score a no-closing cost refinance. With a no-closing cost refinance, yo... more