After paying mortgage payments for many years, a homeowner finally pays the last payment. How does the lender extinguish the mortgage lien on the property? (a) The lender would file a Mortgage Revocation on the property. (b) The lender would file a Satisfaction of Mortgage in the county records where the property is located. (c) The lender will send the borrower a letter of final payment which the borrower can then show to any future buyers. (d) The lender will stamp the original mortgage "paid in full" and send a copy to the borrower.
