Congrats on paying off your mortgage! After you make your final payment, you'll get a form releasing the lien on your house and showing you've paid off the mortgage. You'll need to check your escrow account and make sure you get any remaining balance refunded. Then you'll need to make sure your property tax bills and homeowners insurance bills are sent to you instead of your mortgage company, since you will now be responsible for paying for those. If you don't escow those payments, then nothing will change on that front, but you should check with your insurance company to remove the mortgage company from the insurance policy. Hope this helps and let me know if you have any other questions
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.