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#1
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Which papers to keep?
Hi,
After a series of refinances on my home, I'm now overwhelmed with the amount of paperwork that comes with each refi. Can someone help me with which papers I need to keep from the mortages which I closed as a result of the refinance? thanks, -nitin |
#2
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#3
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On Sun, 03 Oct 2004 22:33:56 -0700, someone wrote:
All of them. You never know when you are going to either sue someone or be sued. None of them. The only ones that count have been recorded with the County Clerk or Registrar or whatever it is where you live, and are on file there. Seriously, if you want to be able to check your terms without a trip to the courthouse, OK keep the current Note & Mortgage. If you are obsessive compulsive like I am, keep your settlement statement in this year's annual folder. You will never look at it again - certainly not after a year, if you don't think you were ripped off or something on your settlement now, you will not be going back 5 years from now to audit it either. There is NOTHING you have that "roves" anything, when the official record is what is recorded at the county hall. Its like people putting their deed in a fireproof box or something, its only useful if you want to check your boundary descriptions, it proves nothing about current ownership. Example: when you sell your house to the next guy, your lawyer draws up a new deed for you to sign - you keep the old one, it still says the same thing, but now its just a deed to something you don't even own. -v. |
#4
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"Nitin" wrote in message om... Hi, After a series of refinances on my home, I'm now overwhelmed with the amount of paperwork that comes with each refi. Can someone help me with which papers I need to keep from the mortages which I closed as a result of the refinance? thanks, -nitin Most important paper is the Note. |
#5
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I keep receipts/statements/instruction manuals for everything.
And I especially keep anything legal, contracts, insurance documents, etc. Just get a cardboard box, label the year, and dump all paperwork in there. Have a box for each year. Then if (when) you need to find something, you will at least have it narrowed down to the year and will have it. "Nitin" wrote in message Hi, After a series of refinances on my home, I'm now overwhelmed with the amount of paperwork that comes with each refi. Can someone help me with which papers I need to keep from the mortages which I closed as a result of the refinance? thanks, -nitin |
#6
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On Mon, 4 Oct 2004 11:02:37 -0700, "Bill"
wrote: I keep receipts/statements/instruction manuals for everything. And I especially keep anything legal, contracts, insurance documents, etc. Just get a cardboard box, label the year, and dump all paperwork in there. Have a box for each year. Then if (when) you need to find something, you will at least have it narrowed down to the year and will have it. "Nitin" wrote in message Hi, After a series of refinances on my home, I'm now overwhelmed with the amount of paperwork that comes with each refi. Can someone help me with which papers I need to keep from the mortages which I closed as a result of the refinance? thanks, -nitin If I signed it in the proces of buying or refinancing, I keep it a copy. Storage is cheap as a rule and the paper you toss out is the one it turns out you need desparately. Jim P. |
#7
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"Nitin" wrote in message om... Hi, After a series of refinances on my home, I'm now overwhelmed with the amount of paperwork that comes with each refi. Can someone help me with which papers I need to keep from the mortages which I closed as a result of the refinance? thanks, -nitin This is Turtle. It is hard to say what you would need or not but I would keep all of them for referrence if say your bank or loan company sells your Note to another bank or load company or maybe your bank goes belly up. If they go belly up --- your note can be called and they will give you 90 to 180 days to pay the note off or refinance it. This case is or usely only if the interest rate your paying in too low for them to like. The reason i say this my next door neighbor had a 6% note and Gulf Coast investments went belly up. The going interest rate at the time was 17% and the buyer of the note called the note and he had to refinance it at 17% . He got the red ass but they got their money. It is all ways a good ideal to look at who you finance your home with. TURTLE |
#8
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