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.
