By laws how many days do we have to prepare a Satisfaction of Mortgage?
Full Question:
We service loans in all states, and per the various laws/statutes for each state - we have a certain amount of days to prepare a satisfaction/release of mortgage after the loan pays in full. For compliance purposes - should we count business days or calendar days? If most businesses are closed on Saturdays/Sundays and because the Postal Service does not conduct business on Sundays - why should these days be counted? If someone can provide a law for back up purposes?
04/11/2007 |
Category: Real Property ยป Mortgage Sat... |
State: ALL |
#2963
Answer:
Laws vary by state. If you don't want to research the statutes for each state, counting by calendar days would be the most conservative course of action.
