unmortgage
Pay off property
To unmortgage is to free property from a mortgage by paying off the debt.
The term appears in legal and financial contexts when a homeowner or business clears the lien: After twenty years of payments, they finally unmortgaged the family farm.
The word is rare, as most people simply say they "paid off the mortgage."
Culminating benefit received
- liberationRelease from constraint
- unencumberedFree from hindrances
- clearancePermitted passage or approval
- dischargeRelease of substance outward
settlement · free and clear · final payment · financial freedom · debt relief · celebration · milestone · accomplishment
Formal honorific or name
- deedWritten property conveyance
- freeholdPermanent property title
- equityImpartial treatment or ownership value
- homeownerProperty title holder
proprietorship · asset · real property · land rights · possession · tenure · holdings · estate
Last sum owed
- escrowConditional third-party deposit
- closingFinal stage of something
- reconveyanceReturn of title rights
- recordingCaptured audio or video
county clerk · notarization · wire transfer · title company · filing · verification · confirmation · certificate
Accumulated money kept
- lump sumEntire amount at once
- windfallUnanticipated lucky gain
- inheritanceProperty received from ancestors
- refinanceObtain new loan terms
prepayment · amortization · principal · cash reserves · wealth building · disposable income · budget surplus · financial planning
payoff
Culminating benefit received
- liberationRelease from constraint
- unencumberedFree from hindrances
- clearancePermitted passage or approval
discharge · settlement · free and clear · final payment · financial freedom · debt relief · celebration · milestone · accomplishment
title
Formal honorific or name
- deedWritten property conveyance
- freeholdPermanent property title
- equityImpartial treatment or ownership value
homeowner · proprietorship · asset · real property · land rights · possession · tenure · holdings · estate · conveyance
final payment
Last sum owed
- escrowConditional third-party deposit
- closingFinal stage of something
- reconveyanceReturn of title rights
recording · county clerk · notarization · wire transfer · title company · filing · verification · confirmation · certificate · documentation
savings
Accumulated money kept
- lump sumEntire amount at once
- windfallUnanticipated lucky gain
- inheritanceProperty received from ancestors
refinance · prepayment · amortization · principal · cash reserves · wealth building · disposable income · budget surplus · financial planning · retirement funds
mortgage, mortgaged, mortgaging, mortgages, mortgagee, mortgagor, mortgageable, remortgage, remortgaged