Reply
 
Thread Tools Search this Thread Display Modes
 
Old 01-22-2019, 11:55 AM   #1
Senior Member
 
City: Bayfield, WI
Country: USA
Vessel Name: All Night Long
Vessel Model: Regal 2765
Join Date: Sep 2013
Posts: 314
Notification of Satisfaction of Mortgage?

I paid off my loan on my boat last April, and received a copy of the application for "Satisfaction of Mortgage" that my lender sent to USCG. I just realized that I've never received anything from the USCG that indicates that they've indeed processed that request and removed the lien.

Does anyone know - do they notify you when they've processed that? Or is it just executed and closed?

Thanks,
BD
__________________
Advertisement

BDofMSP is offline   Reply With Quote
Old 01-22-2019, 12:16 PM   #2
Guru
 
Comodave's Avatar
 
City: Au Gres, MI
Country: US
Vessel Name: Never Say Never
Vessel Model: President 41 DC
Join Date: Jul 2015
Posts: 3,607
I have called them in the past when it seemed to take too long and they happily gave me a status on my documentation. However the government being shutdown they may not be manned. They are doing automated renewals but they probably are not doing new documentations. But I would try to call.
__________________

Comodave is online now   Reply With Quote
Old 01-22-2019, 12:29 PM   #3
Guru
 
djmarchand's Avatar
 
City: Litchfield, Ct/Punta Gorda, Fl
Country: USA
Vessel Model: Atlas Pompano 23- outboard
Join Date: Aug 2012
Posts: 4,394
I paid off a boat loan on a boat a dozen or more years ago. I got a copy of the same thing you did from my lender but nothing from the CG to indicate it was acted upon.


I was a little concerned when I sold the boat, but it went through fine so it must have been recorded by the CG.


So, the only way I know to be sure that the CG has removed the mortgage is to apply for an abstract of title. That will tell you for sure.


David
djmarchand is online now   Reply With Quote
Old 01-26-2019, 01:53 PM   #4
Guru
 
City: Z
Country: USA
Vessel Model: Beneteau Swift Trawler 44
Join Date: Mar 2017
Posts: 684
Quote:
Originally Posted by BDofMSP View Post
I paid off my loan on my boat last April, and received a copy of the application for "Satisfaction of Mortgage" that my lender sent to USCG. I just realized that I've never received anything from the USCG that indicates that they've indeed processed that request and removed the lien.

Does anyone know - do they notify you when they've processed that? Or is it just executed and closed?

Thanks,
BD
IIRC prior to the shutdown they were very far behind on recording satisfactions...now good luck... you can email them and ask or pay $25 for an abstract of title.
mystery is offline   Reply With Quote
Old 01-26-2019, 06:24 PM   #5
DDW
Guru
 
City: San Francisco
Country: USA
Join Date: Apr 2018
Posts: 729
I'd apply for the abstract of title, but you might wait awhile for the CG to catch up to the bank.

I have a horror story on this: sold a boat, which I had originally had a loan on but which had been paid off for at least 10 years. Bank did not clear the title with the CG as it turned out. Bank was Tango Uniform by that time and the assets had been passed through so many different banks and entities in the ensuing 10 years that it was nearly impossible to track down. Coast Guard says we cannot clear title until someone at some bank says it's been paid (didn't really care who). After several weeks of phone calls, finally found someone at some bank that may have had some of the assets of the original bank willing to sign it off.

Keep the paperwork clean.
DDW is offline   Reply With Quote
Old 02-16-2019, 09:06 AM   #6
Senior Member
 
bgillroy's Avatar
 
City: Marathon, FL & On Loop
Country: usa
Vessel Name: Maka Honu
Vessel Model: Ta Yang, 42 Tayana PH Trawler 1976
Join Date: Mar 2014
Posts: 170
CG posts all docs on record. They all stay there. When abstract is obtained all ships mortgages and satisfactions will show. CG is only repository of docs. Get it posted you're done.
bgillroy is offline   Reply With Quote
Old 02-16-2019, 09:44 AM   #7
Guru
 
City: Carefree, Arizona
Country: usa
Vessel Name: sunchaser V
Vessel Model: DeFever 48
Join Date: Apr 2008
Posts: 7,747
BD is your vessel Documented?
sunchaser is online now   Reply With Quote
Old 02-16-2019, 04:23 PM   #8
Senior Member
 
City: Bayfield, WI
Country: USA
Vessel Name: All Night Long
Vessel Model: Regal 2765
Join Date: Sep 2013
Posts: 314
Yes it is documented.
BDofMSP is offline   Reply With Quote
Old 02-16-2019, 04:25 PM   #9
Senior Member
 
City: Bayfield, WI
Country: USA
Vessel Name: All Night Long
Vessel Model: Regal 2765
Join Date: Sep 2013
Posts: 314
Quote:
Originally Posted by bgillroy View Post
CG posts all docs on record. They all stay there. When abstract is obtained all ships mortgages and satisfactions will show. CG is only repository of docs. Get it posted you're done.
I'm sorry but I'm not aware of where these are posted. I haven't seen anything like that on the site. Could you push me in the right direction?
BDofMSP is offline   Reply With Quote
Old 03-03-2019, 07:02 AM   #10
Senior Member
 
bgillroy's Avatar
 
City: Marathon, FL & On Loop
Country: usa
Vessel Name: Maka Honu
Vessel Model: Ta Yang, 42 Tayana PH Trawler 1976
Join Date: Mar 2014
Posts: 170
USCG documentation center ...log on insert doc number to bring up boat. To see all docs buy abstract for small fee and they send you email with all docs of record pretty simple and easy.
__________________

bgillroy is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off





All times are GMT -5. The time now is 09:46 PM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2006 - 2012