Not exactly building/maintaining. More like, possibly, the end of the series I wrote many years ago “starting from dirt”, back on the old TMF.
We paid off the mortgage almost three years ago. Clean title is in the safe. Is there any reason to keep my original loan/mortgage papers, or statements? I keep 7 years of tax records, so I have the mortgage interest statements in there. But the various statements and correspondences from the lender(s) are in a big fat folder.
Since I have a clean title now, I can just shred all that. Correct? Or am I overlooking some reason to keep all that?
I rarely shred old docs like those old records, just leave them in a file drawer, little space used, but if someone in the future wants to see them, for just curiosity or maybe just some minor detail, at least they are around to see. I kept my parent’s old docs as well, maybe Grandkids or beyond might get curios. My own Dad was really bad, burned up lots of old documents, photos, negatives, erasing chinks of history. And he rarely ever talked of his early days, his parents, family, poof, up in smoke, I’m sure, or tossed down an old well… Gone… I spent a lot of time recovering information that should have been kept as a genealogy challenge. At the least , maybe scan, store the files somewhere safe, readable, memory sticks today, I used DVDs, but new computers no longer have readers, so another add-on is needed…
We have records from the 1800s for the home where my DW grew up, one day we should pass it on to the current owners, or the local Library… Never know what might be of interest…
But, that is me, others may not care, but just in case…
I have to admit, I’m not terribly nostalgic about old family stuff. I have no surviving siblings, no 1st cousins, one aunt (with no children). There’s really no one close to me. Some relatives I never met (2nd or 3rd cousins, maybe a great great aunt/uncle somewhere). But that’s just me. I know many folks have a passion for digging that stuff out. If I find a photo of people I don’t recognize, I would have no one to ask who they are.
But I’m really referring only to documents related to the mortgage that has since been paid. Since it’s paid, is there any reason to keep the old statements and correspondence? It’s actually taking up almost 3" of file cabinet space. Like I said before, it’s a fat folder.
That’s what triggered my research into my, and later my wife’s family history. An Aunt, then a 1st cousin passed suddenly, they had been a major reservoir of knowledge after both my parents had passed, Mom at 64, Dad later, but as I said he wasn’t talking. Mom had ALS so couldn’t speak or write near the end, the Aunt didn’t survive a hip surgery, and the cousin stroked out, also sooner that ever expected… My sister had died early, 42, breast cancer, neither of my brothers had any interest at all… So I can understand it…We did 23 & Me testing along the way, many far removed cousins, but if closer relatives don’t test, they remain invisible… So my genealogy file has grown with what I found to ~3300 people, still many blanks, but now the problem is, who to pass it along to so it’s not lost? I submitted it to the History Center of the LDS, but they found errors, didn’t accept my submission. Hard to see if the younger folks are interested, one that is, is also bipolar, so I can’t rely on it getting messed up… Anyway, it’s been an interesting chase, met folks in OR, WA, MN, MT, and even traveled to Denmark, to visit Dad’s father’s homeland, discovered a Grand-Uncle we never knew about… Wanted to go to Poland, Ireland, but… There are limits… Age & time…
My take on record retention is a little different. The only records I keep are those that are not available on line generally and those I may have to produce.
We do scan a lot of stuff and annually cull that.
Financial records for IRS audits (unless the issue is fraud, they have 3 years from my finial filing date), car titles, original copies of Revocable Trust, Advanced Medical Directive, POLST, deeds/titles, etc.
Birth certificate, Passport, Licenses and Permits.
We have no children. We both have dealt with houses full of junk when the last parent dies. Getting a dumpster solves the contents issune, but the hour checking through paper which might lead to an unknown brokerage account or land title get expensive when the estate is paying an estate executor. We would rather the estate go to beneficiaries.
Very curious when you say “clean title is in the safe.” What document are you specifically referencing? Because title on a home is not like a vehicle’s title. If you received the “mortgage release” or “satisfaction of mortgage” document, that really should be filed with the county. That is where it shows home is free and clear. If your mortgage release is filed, then no real reason to hold on to your old mortgage documents.
As a mortgage professional, I see it a few times a year where lender mails the release of mortgage to homeowner vs sending it to the county recorder’s office. Some homeowners have it stored away, and others misplace it. Mainly see this with small lenders that don’t want to pay the recording fee. Most large banks will send it directly to the county and mail homeowner a letter stating such.
Trivial point, but that county level does not apply everywhere. Here in Connecticut the county is just a grouping of towns. A useful grouping, and is the basis for some statistics, but nothing more. Deeds are recorded at the town clerk’s office.
OK, better way to say it is “clean deed”. Or maybe it was just a letter (I’d have to open the safe to find out). It was three years ago. I received something, and put it straight into the folder in the safe. Plus a check for the extra amount they said I sent in the pay-off. I sent what they asked for, but got a small refund anyway.
Do I need to file it with the county? I thought the lien holder did that.
With regard to my debts, different states and different types of debt with at least one state have different rules. Certainly real estate agents run into this often enough to know - but why not ask the folks at your local county property office. I have found these people everywhere I have lived to be very helpful.
It might be worth spending a few minutes with google to see if the records are available online. They are here in Connecticut. I can google GIS (Geographic Information System) and the town name and come up with a site that has every parcel of land along with all the details that go into the tax assessment such as acreage, square feet of living space, number of rooms, how it is heated and so forth. Mine shows each sale going back to 2007, with the buyer and sale price. For any property in the state!
Yes, it may be a long shot for a lot of states. Might be worth looking anyway.
I thought of that. I can find the status of our property tax as long as I know the parcel number (which I do). But I can’t seem to find much on liens. I will be calling on Monday.
I did find the “Deed of Release and Full Reconveyance” recorded by the bank with the county in the safe. So we have that.
I would review what you have and ensure it’s a letter and not the lien release that needs to be filed to show home is free and clear. If it’s the lien, send it to the recorder of deed’s office or county recorder and have it recorded.