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?
- Category: Real Property
- Subcategory: Mortgage Satisfaction
- Date:
- State: National
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.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
