what happens after loan is paid off.

[condorthb]

DVC loan is paid off with Monera.

What happens next and is there a time frame something should happen by?

 

[Jwaire]

Monera will file a satisfaction of mortgage with the OC Comptroller, but they do this in bulk, not individually. However, it's fairly timely say within 30 days.

They will also mail you a letter thanking you and letting you know you're done.

You can check here:

https://occompt.com/official-records/search-official-records/

 

[MICKIMINI]

I apologize in advance for being sarcastic...you buy another contract LOL!

Congratulations!

 

[geargrinder]

I apologize in advance for being sarcastic...you buy another contract LOL!

Congratulations!

This is the way.

 

[condorthb]

I know the deed takes time, and not worried about that.

But, loan has been paid off for weeks and haven't received a letter, email, or anything from Monera stating that?
All I have is a screen shot for what that is worth.

Should I call and ask them to send something for my records?

 

[arisafari]

I know the deed takes time, and not worried about that.

But, loan has been paid off for weeks and haven't received a letter, email, or anything from Monera stating that?
All I have is a screen shot for what that is worth.

Should I call and ask them to send something for my records?

Did this ever get sorted for you? I'm wondering the same thing.

 

[geargrinder]

Just paid off my Monera loan. Bumping this to see if anyone has an update.

 

[condorthb]

Just paid off my Monera loan. Bumping this to see if anyone has an update.

Funny thing. About 2 days after my 3/18 post, I got a email with a satisfaction of mortgage statement.

 

[geargrinder]

It's been about a month. I've seen nothing yet.

 

[Great3]

Although an email confirmation is good, a lien release needs to be recorded with the county, but that supposed to happen without you needing to contact Monera.

Great3

 

[The Jackal]

The first thing that happens, is you start to look for another contract. Add-on-itis is real.

 

[Jack_Sparrow_NJ]

My loan is due in two months. Moderna will send in the paperwork at that time. As for me, I’m looking for a new contract

 

[geargrinder]

Finally got my confirmation info.

Here's my timeline of our payoff process.

7/18- Made payoff payment to Monera
8/20- Monera sent Satisfaction of Mortgage to OC Comptroller (no info sent to me)
9/1- OC Comptroller receives notice and marks document "Recorded" (no info sent to me)
9/4- OC Comptroller updates online info to show recorded on this date.
9/4- Monera sends email with attached recorded Satisfaction of Mortgage document.