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Get the free Partial Release of Mortgage associated with a SHIP home rehabilitation project

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AGENDA ITEM ST. JOHNS COUNTY BOARD OF COUNTY COMMISSIONERS31Deadline for Submission Wednesday 9 a.m. Thirteen Days Prior to BCC Meeting 10/3/2017 BCC MEETING DATE TO:Michael D. Wan chick, County AdministratorFROM:DATE:Shawna
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How to fill out partial release of mortgage

01
To fill out a partial release of mortgage, follow the steps below:
02
Obtain the partial release of mortgage form from your mortgage lender or download it from their website.
03
Fill in the current date at the top of the form.
04
Provide your personal information, including your name, address, and contact details.
05
Specify the original mortgage document number and the date it was executed.
06
Describe the property that is being released from the mortgage. Include the address, legal description, and any identifying information.
07
Indicate the exact portion or amount of the mortgage that is being released. This can be in the form of a dollar amount or a percentage.
08
If required, provide additional supporting documents such as a survey or appraisal report.
09
Sign and date the form.
10
Submit the completed form to your mortgage lender for processing.
11
Keep a copy of the form and any supporting documents for your records.

Who needs partial release of mortgage?

01
A partial release of mortgage may be needed by individuals or businesses in the following situations:
02
- Property owners who have paid off a portion of their mortgage and want to release that portion from the mortgage lien.
03
- Investors or developers who have completed the repayment of a specific portion of a mortgage on a property.
04
- Borrowers who have obtained additional financing and need to release a specific portion of the property from the existing mortgage.
05
- Homeowners who have subdivided their property and want to release a portion of it from the original mortgage.
06
- Property owners who have satisfied certain conditions specified in the original mortgage agreement, allowing for the partial release of the mortgage.
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Partial release of mortgage is a process in which a portion of the mortgage debt is paid off and the lender releases their claim on a specific property.
The borrower or property owner is typically required to file a partial release of mortgage.
To fill out a partial release of mortgage, you will need to provide information on the property, the mortgage lender, the amount being paid off, and any other relevant details.
The purpose of a partial release of mortgage is to remove the lender's claim on a specific portion of the property.
Information such as the property address, lender's name, amount being paid off, and any legal descriptions must be reported on a partial release of mortgage.
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