What docs to keep from home closing

[Rob Base 2.0]

We purchased the house 10 years ago. We refinanced 7 years ago. From the obscene pile of paperwork what if anything should we keep? We haven't needed anything so far and no issues with mortgage

I started shredding like 3 pages than saw a page that said "keep with your important docs" ---it was the title search / verification or whatever so I stopped shredding.

Really trying to downsize things (except for my actio figure collection :-)

So what should I keep of this paperwork?

[Bonny]

You'll want the grant deed, title policy, survey (if done) and the closing sheet which will detail the cost of purchase.

Also any inspections you may have done as a part of the purchase. In my state you have to give those to the next buyer. Even if your state doesn't require it now they could in the future

You can chuck the old loan paperwork but keep the document that came after you refinanced. Should say something like "Satisfaction of Lien" or something like that.

Keep your present mortgage paperwork.

What else do you have?

[Rob Base 2.0]

Jun 12, 2017 9:55:49 GMT -5 Bonny said:

You'll want the grant deed, title policy, survey (if done) and the closing sheet which will detail the cost of purchase.

Also any inspections you may have done as a part of the purchase. In my state you have to give those to the next buyer. Even if your state doesn't require it now they could in the future

You can chuck the old loan paperwork but keep the document that came after you refinanced. Should say something like "Satisfaction of Lien" or something like that.

Keep your present mortgage paperwork.

What else do you have?

I'll have to check. Thanks.

[CCL]

Jun 12, 2017 9:55:49 GMT -5 Bonny said:

You'll want the grant deed, title policy, survey (if done) and the closing sheet which will detail the cost of purchase.

Also any inspections you may have done as a part of the purchase. In my state you have to give those to the next buyer. Even if your state doesn't require it now they could in the future

You can chuck the old loan paperwork but keep the document that came after you refinanced. Should say something like "Satisfaction of Lien" or something like that.

Keep your present mortgage paperwork.

What else do you have?

I actually needed this once when selling a house. I keep all closing documents, so, of course, I had it. After a couple years, I scan, then throw away most of it. 

[busymom]

I keep all of the actual closing documents, and loan documents.  I don't know how the legal system works on scanned documents, but, for example, when I sold Mom's house, I was surprised how many actual documents they wanted, and thankful that Dad & Mom had hung onto them.  The biggest surprise for me was having to know the name of the bank that Mom & Dad's original mortgage was taken out with.  That bank had been out of business for years, but I had the paperwork!  

[alabamagal]

Well hopefully the 7" of paperwork in a file cabinet does not drive you to get a larger house!

I have about 3".  Owned first house for 30 years, had a refi and LOC, plus current house.

[Bonny]

Jun 12, 2017 11:31:15 GMT -5 alwaysbeoptimizing said:

ugg, i hate posts like this.  i probably have 7 inches of mortgages (we own three houses and 4 mortgages)  I seem to end up refinancing every two yearsx3 properties, so i have quite a collection of mostly irrelevant crap.


dreading the time to dig through and save what I need, shred what I don't.

If you paid any "points" during the refis you'll want to keep that closing sheet with your tax docs for the year you write them off. But other than the satisfaction of lien, you can chuck the old loan paperwork.

And don't think about it as "dreading the time" think of it as liberating space and clutter!

[movingforward]

Well, this is good info to have since I am in the process of purchasing a home. I pretty much toss everything I possibly can. I hate keeping a bunch of paperwork around. It's good to know what I need to hold on to.

[Cookies Galore]

The vast majority of documents from our purchase are pdfs, but I do have a small box in my closet with every hard copy of anything we recieved during the buying process. It will probably stay there the entire time we live here.

[8 Bit WWBG]

I sometimes wonder if it is worth keeping some of these offsite, either hard copy or digitally.  Most likely they'd never be needed, but you never know.

I need to go through and get rid of some of this paperwork too, or at least organize it better.  Thanks for bringing this up!