Paid off DVC Mortgage Question

[PBB]

Hi,

We just paid our DVC Mortgage off last month at OKW. Do we get something from DVC stating that the mortgage has been satisfied ??

Thanks,

Patrick

 

[stopher1]

I can't answer your question - but I can say CONGRATULATIONS!!!! That's awesome.

 

[Isi]

Wow that must be a nice feeling, I haven't yet made a 1st payment, hahaha..Congratulations....

 

[disneynutz]

You should receive a lean release document once your payoff has been recorded with the County. It takes a couple of months.

 

[tiggerrr]

Hi,

We just paid our DVC Mortgage off last month at OKW. Do we get something from DVC stating that the mortgage has been satisfied ??

Thanks,

Patrick

The official document is a called a Satisfaction of Mortgage. To give you our experience on timelines, we made our last payment on Sept 16. DVC created the Satisfaction of Mortgage on Oct 18 and it was registered with Orange County on Nov 16. We received our copy in late November, but I can't remember exactly when.

 

[PBB]

Tiggerrr and Disneynutz,

Thanks for the time line. We paid off the mortgage last month and since then we have heard nothing from DVC. I had assumed we would get some notice stating the mortgage is satisfied just didn't know when.

Isi and Stopher,

Thanks for the Congrats......it does feel nice knowing it is all paid for. We now know that we have 34 more years of DVC without payments (other than the annual dues of course)

We did not choose to extend our OKW package for the additional years. I will be 78 years old when our package expires and we figured that we would be done with DVC at that point. Of course, if our children want to extend it they can always do it themselves.

I was very surprised at how quickly the 9 years had gone since we purchased our DVC Package. We started to count the vacations that we had taken since that period and got lost very quickly. We are not the typical DVC owner that travels to WDW every year. We live in the Metro Atlanta area and we travel to HH at least twice a year or more. We discovered VB a few years ago and loved that property as well. I believe we have been to WDW 4 times on our points in 9 years. LOL So, I would say we are atypical.

 

[blizzard]

You should also be able to download a copy from the Orange County website (same place where you can find your deed), before they get around to sending it to you.

This is just in case you need it for any reason, or want to see it.

 

[DVCDadCNY]

Congrats!! Doesn't it feel great to have that done and over with. I've done it twice. Both times it did take a couple of months for that letter to arrive. You should see a on dvcmember.com that your loan is paid in full. In case you were worried.

Now you can get a second contract with all that money you're saving

Hi,

We just paid our DVC Mortgage off last month at OKW. Do we get something from DVC stating that the mortgage has been satisfied ??

Thanks,

Patrick

 

[Coach81]

Congrats!!! I'm starting to double our payments every month to pay ours off asap. Hopefully we will have ours paid off in a few years.


Then let the real vacations begin!!!

 

[JESW]

Yes, you will receive official documentation. We recently paid off both our contracts and it was such a good feeling to get those papers in the mail!

And we go on our first DVC trip in less than 2 weeks!!!

Jill

 

[TiszBear]

Congratulations!!!

I know that feeling of having it paid off. You will receive you loan satisfaction in a few months, you should also receive a letter from DVC telling you that information.


Congrats again!
Jennifer