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What is involved in discharging a mortgage?

Discharging a mortgage means recording a mortgage discharge with the registry to release the Bank’s collateral hold on your home.

Generally, you will pay the cost to register the discharge and possibly a discharge fee to your lender.

Collateral mortgage

To discharge a collateral mortgage, you must inform the lender and repay all the secured debt.

Conventional mortgage

A conventional mortgage can only be discharged once the loan has been repaid in full. The mortgage is discharged at the borrower's request or automatically, depending on the lender and province.

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