How does a home loan modification program work?

A loan modification is a negotiation between you and your lender. It begins by contacting your mortgage company, discussing your problem, and proposing a solution that involves modifying the loan. How Government Loan Modification Programs Work The purpose of a mortgage modification is to get your monthly payment to a more affordable level.

What are the qualifications for a Hamp loan modification?

Mortgage qualifications. In order for your loan to qualify for modification under HAMP, the following conditions must apply: You obtained your mortgage on or before January 1, 2009. You owe up to $729,750 on your primary residence or single unit rental property.

Can a homeowner get an in-house modification?

In-House Modification. An in-house modification is more flexible because it’s totally up to the lender to change the terms. A homeowner who doesn’t qualify for HAMP can get an in-house modification if he can prove to the lender that it is justified.

Can a home loan be modified under the CARES Act?

However, not all lenders offer loan modifications, even those home loans covered under forbearance provisions in the CARES Act. So be sure to contact your lender to come up with a doable plan (whether it’s a forbearance, modification or something else) that will prevent you from defaulting on your loan.

How to get a loan modification to avoid foreclosure?

In order to avoid foreclosure, your lender may agree to modify some or all of the terms of your loan. A loan modification is a negotiation between you and your lender. It begins by contacting your mortgage company, discussing your problem, and proposing a solution that involves modifying the loan.

What’s the income limit for a mortgage modification?

The purpose of a mortgage modification is to get your monthly payment to a more affordable level. An “affordable” mortgage payment is typically defined as 31% of the borrower’s monthly gross income. So for example, if you earn $4,200 a month, then your loan will be modified to be 31% of your income, or $1,302 per month in this case.

How to find out if you qualify for a loan modification?

If you’re ready to begin negotiating for a loan modification, get some free advice before contacting your lender. Talk to a nonprofit housing consultant from a HUD-approved agency and find out how likely you are to qualify for a loan modification based on your individual mortgage and financial situation.

How does the Federal Loan modification program work?

Under the federal loan modification plan, your monthly loan payments are reduced by modifying one or more components of your mortgage: Lower the interest rate Extend the life of the loan Lower the loan principle

When to apply for a loan modification under HAMP?

If you are behind on your payment or facing foreclosure, applying for a loan modification places a temporary halt on the foreclosure process. In order for your loan to qualify for modification under HAMP, the following conditions must apply:

Are there any home loan modification programs for veterans?

Credit.org, a HUD-approved housing counseling agency, has developed three programs to help homeowners who have been denied or do not qualify for this federal program: VA Loan – If your home mortgage is a Veterans Administration (VA) loan, then there is a specific government program called the Cal Vet Modification.

Is there a home modification program in Massachusetts?

Massachusetts Rehabilitation Commission Home Modification Loan Program (HMLP) The Home Modification Loan Program provides no interest loans to modify the homes of adults and children with disabilities.

Who are eligible for Hamp home loan modifications?

(For mortgage loans that are owned or guaranteed by Fannie Mae or Freddie Mac, eligible homeowners may be offered modifications under related programs also called “HAMP.”

Can a disabled person get a home modification loan?

offered by. The Home Modification Loan Program provides no interest loans to modify the homes of adults and children with disabilities. If you or a household member is disabled or an elder, the Home Modification Loan Program can provide a loan so you can make needed adaptations or modifications to your home.

What are the requirements for a mortgage modification?

Eligibility requirements for mortgage modifications vary from lender to lender, but you typically must: Be at least one regular mortgage payment behind or show that missing a payment is imminent. Provide evidence of significant financial hardship, for reasons such as:

(For mortgage loans that are owned or guaranteed by Fannie Mae or Freddie Mac, eligible homeowners may be offered modifications under related programs also called “HAMP.”

What makes a home a primary residence on a mortgage?

Primary Residence, Defined Your primary residence (also known as a principal residence) is your home. Whether it’s a house, condo or townhome, if you live there for the majority of the year and can prove it, it’s your primary residence, and it could qualify for a lower mortgage rate.

If your mortgage is guaranteed by the USDA/RHS, we will review your loan for a USDA/RHS modification program. You may be eligible if you meet all the following requirements: You own the home, live there full time, and are committed to keeping the property as your primary residence.

How old do you have to be to get a home modification grant?

The Rural Housing Repair Loans and Grants program is funded by the United States Department of Agriculture (USDA). Recipients must be 62 years or older and from low-income households. Funds may be used to modify existing residences or can be used to install new home features that create safer living quarters for residents.

How much does it cost to get a home modification?

This guide provides information on available grants to help improve your quality of life. The cost to remodel for a disability modification averages about $4,350, but can be much more, depending on the type of work you need done. If you aren’t sure exactly where to start, a home safety assessment and disability planner near you can help.

Can a person with a disability get a home modification?

Whether you love the house you’re currently in or have plans to build a home that’s more accommodating to your disability, there are many different home modifications you can choose to implement. If you have stairs in your household but depend on the use of a wheelchair, a beneficial modification might be a chairlift.

How does the Home Affordable modification program work?

To do this, the lender may allow the homeowner to refinance the loan, pay a lower interest rate, extend the term of his loan, skip payments and add them to the total loan amount or roll past-due payments into the total loan amount. What Is the Home Affordable Modification Program?

What does Hamp mean for home loan modification?

Home Affordable Modification Plan (HAMP) The Obama Administration introduced HAMP as part of the Making Home Affordable plan to stabilize the housing market. Under the federal loan modification plan, your monthly loan payments are reduced by modifying one or more components of your mortgage: Lower the interest rate.

What kind of modifications can I make to my home for Medicaid?

While Medicaid is a federal program, each state administers their own Medicaid programs separately. By home modifications we are referring to changes made to a home to accommodate for aging or disability challenges. Typical modifications include bathroom & kitchen designs, wheelchair ramps and stair-lifts.

Who is eligible for a government loan modification?

Some borrowers are eligible for government assistance in loan modification. Although a loan modification may be made for any type of loan, they are most common with secured loans such as mortgages. A loan modification is typically granted to a borrower in financial crisis who can’t repay the loan under its original terms.

Which is the most common type of loan modification?

Mortgage loan modifications are the most common type because of the large sums of money at stake. During the housing foreclosure crisis that took place between 2007 and 2010, several government loan modification programs were established for borrowers.

How can I get a mortgage modification?

To get a modification, you’ll need to submit an application to your servicer. Often you’ll need to provide: a completed application (including your personal information, mortgage information, property information, and so forth) recent pay stubs (or a profit and loss statement if self-employed)

What are the requirements for loan modification?

Qualifying for a Loan Modification. Every mortgage lender’s policies concerning loan modifications will differ. Common requirements, however, include proof that you have sufficient income to pay the new, modified mortgage payments and successful completion of a “trial” loan modification.

Can I refinance after modification?

Positive changes that can help you obtain a refinance after a modification include increased property values. With substantial equity, a refinance lender bears less risk because it finances a proportionately lower amount relative to property value.

Can I modify my mortgage?

Reduce the Interest Rate. Shaving your interest rate can reduce your monthly mortgage payments by hundreds of dollars.
Lengthen the Term.
Switch from an Adjustable-Rate-Mortgage to a Fixed-Rate Mortgage.
Roll Late Fees Into the Principal.
Reduce the Principal Balance.
All or Some of the Above.

How does a mortgage loan modification work in Chapter 13?

After the case is filed, the debtor applies for a loan modification with his mortgage company. While in Chapter 13, he continues to make payments to the Chapter 13 trustee, which includes the $5,000 owed to the mortgage company. Assume that a year after the case is filed, the mortgage modification is approved.

Is it cheaper to use a loan modification company?

Modification companies collect your application paperwork from you and send it to your mortgage servicer. These companies charge thousands of dollars to act as a middleman. It’s much cheaper to handle the modification process yourself instead of paying someone else to do the legwork for you.

Is it possible to get a second mortgage modification?

Yes, it is possible to get a second loan modification though statistically it’s obvious that you are less likely to get a second modification if you’ve had a first, and a third if you were lucky enough to get a second.

How do I get Out of a second mortgage?

There are typically only two ways to get out of a second mortgage. The first is to sell your home and in doing so, the second mortgage as well as all other liens against the property will clear themselves. The second is to consolidate a second mortgage by refinancing both mortgages currently held on…

How do you get a second mortgage?

Applying for a second mortgage is similar to the process of taking out your first mortgage. You will likely need to have your home appraised. The amount available to you will depend on the equity in your home. You can begin by going to your bank or credit union and applying for a loan through them.

How long does it take for a loan modification to become permanent?

Many loan modifications start with a three-month trial period plan. So long as you make three on-time payments during this period, the modification is supposed to become permanent—assuming you still meet the eligibility criteria.

When does a mortgage servicer have to review a loan modification?

If the servicer receives a complete application more than 37 days before a foreclosure sale, it must review the application and determine if the borrower qualifies for a loan modification within 30 days.

What happens if you are not approved for a loan modification?

If you have a lot of equity in your home or if your income is too low in comparison to the value of the home, you may not be ultimately approved for the loan modification, but you won’t know for sure until the figures are calculated. For homeowners who do qualify for loan modification, there is a three-month trial period.

What do you need to know about home loan modification?

Connecting …. A home loan modification is the process of changing the terms of a mortgage that were originally agreed upon between the lender and borrower or the mortgagee and mortgagor. Usually, the mortgagor makes payments on the mortgage until the loan and the interest are fully paid.

Can a closed end mortgage loan be modified?

As explained in our blog on closed-end loan modifications, modifications of mortgage loans can be quite complex and vary greatly based on the loan agreements and applicable state laws.

Many loan modifications start with a three-month trial period plan. So long as you make three on-time payments during this period, the modification is supposed to become permanent—assuming you still meet the eligibility criteria.

When does a mortgage servicer have to notify a borrower of a loan modification?

Under these laws, when a servicer receives a loan modification application from a homeowner 45 days or more before a foreclosure sale, it must: notify the borrower within five days stating that the application is complete or incomplete.

However, not all lenders offer loan modifications, even those home loans covered under forbearance provisions in the CARES Act. So be sure to contact your lender to come up with a doable plan (whether it’s a forbearance, modification or something else) that will prevent you from defaulting on your loan.

Can you get a mortgage modification if you lose your job?

In other words, if you lose your job and no longer have any income, a modification might not be enough to get you back on track. However, if you start earning less (due to a job change or other factors), you might still be able to make regular payments, but only if you can reduce the monthly cost.

In other words, if you lose your job and no longer have any income, a modification might not be enough to get you back on track. However, if you start earning less (due to a job change or other factors), you might still be able to make regular payments, but only if you can reduce the monthly cost.

How does a flex modification work on a mortgage?

Flex Modification typically involves adjusting the interest rate, forbearing a portion of the principal balance, or extending the loan’s term to make monthly payments more affordable for the homeowner. To be eligible for a Flex Modification program, the homeowner must have:

The purpose of a mortgage modification is to get your monthly payment to a more affordable level. An “affordable” mortgage payment is typically defined as 31% of the borrower’s monthly gross income. So for example, if you earn $4,200 a month, then your loan will be modified to be 31% of your income, or $1,302 per month in this case.

When do you need a Home Affordable modification?

Sometimes, a change in the mortgage loan’s interest rate is sufficient to reach the 31–percent target. Sometimes additional modification steps of term extension or forbearance are necessary as well. See the Home Affordable Modification Program (HAMP) page on the MakingHomeAffordable.gov website.

What happens if you get a principal modification on your mortgage?

In rare circumstances, lenders will actually lower the amount you owe, also known as a principal modification. These were more common during the housing crisis when loose lending standards prevailed and home values tanked, leaving many borrowers underwater with their mortgage.

What do you need to know about a loan modification?

A mortgage loan modification is a change in your loan terms. The modification is a type of loss mitigation. CARES Act Mortgage Forbearance: What You Need to Know — consumerfinance.gov

Can a veteran apply for a mortgage modification?

Active and retired servicemembers and surviving spouses with mortgages backed by the U.S. Department of Veterans Affairs (VA) can apply for loan modification programs and a variety of other programs designed to help avoid foreclosure.

What does Hamp stand for in mortgage modification?

What Is HAMP? Homeowners facing a major financial hardship that could lead to a foreclosure may work with a lender to get a loan modification — sometimes called a mortgage modification, workout plan or restructuring — which will change the terms of the mortgage loan so the borrower can afford the payments.

What is a hardship loan modification program?

Modification Programs. A loan modification is a temporary-to-permanent solution to your mortgage hardship. Your lender may offer it on a temporary basis for three or four months. If you complete the trial run, it can make the modification permanent.

What is a mortgage reduction program?

The Federal Housing Administration streamline rate reduction program lets homeowners with FHA-insured mortgages refinance their home loan to a lower interest rate with minimal paperwork. There are no credit requirements since the homeowner was qualified when she took out her current loan, and the lender will not usually order a new appraisal.

What do you need to know about second lien loan modification?

The “Second Lien Modification Program” (2MP) helps its customers get lower payments on these second lien products. (A second lien mortgage is any 2nd loan against your home’s value.) There are certain requirements to be met: The first mortgage must be permanently modified…

How to get a mortgage for a second home?

Otherwise, the process of applying for a second home mortgage is similar to that of a primary residence mortgage. As with any loan, you should do your research, talk with multiple lenders and choose the loan that works best for you. Before you apply for a second home mortgage, review your credit score, assets and income, just like a lender will.

Do you have to sell your house after a loan modification?

Regardless of the reasons for selling after a loan modification, a loan modification doesn’t mean you have to stay in your house forever if you don’t want to. Some people find they are still struggling after a loan modification and want to get out from underneath their mortgage before they get behind again to avoid a foreclosure or a short sale.

Can a mortgage servicer make a loan modification permanent?

When a servicer promises to modify an eligible loan, homeowners who live up to their end of the bargain expect the servicer to keep that promise. But sometimes homeowners who have successfully made their trial payments are unable to get the servicer to make the modification permanent.

When do I have the right to appeal a loan modification?

Right to Appeal: Only for a First Mortgage on a Home You Live In. You can appeal a loan modification denial only if: you’re trying to modify your first mortgage or deed of trust (learn about the difference between mortgages and deeds of trust) you live in the property, and.

What’s the income limit for a loan modification?

An “affordable” mortgage payment is typically defined as 31% of the borrower’s monthly gross income. So for example, if you earn $4,200 a month, then your loan will be modified to be 31% of your income, or $1,302 per month in this case.

What happens when you request a loan modification?

A loan modification is a restructuring of your mortgage in which you and your lender agree to modify the terms of your home loan. When you request a loan modification, your lender may defer some of your payments, change your interest rate, or extend the length of the loan.

Can a third party guarantee a loan modification?

Be suspicious of any guarantees made to stop the foreclosure process—no matter what your circumstances are. Only your mortgage lender or servicer has the discretion to stop foreclosure and grant a loan modification. No third party can guarantee or pre-approve your mortgage modification application.

How long do you have to appeal a loan modification denial?

Other Laws That Might Give You the Right to Appeal the Denial. The federal government implemented new mortgage servicing rules as of January 2014 that generally require servicers to give homeowners 14 days to appeal a loan modification denial.

How to contact Martindale nolo for loan modification?

Mortgage servicing companies sometimes make serious errors when processing loan modification requests. Please answer a few questions to help us match you with attorneys in your area. By clicking “Submit,” you agree to the Martindale-Nolo Texting Terms. Martindale-Nolo and up to 5 participating attorneys may contact you on the number you provided.

When to apply for HUD after a loan modification?

In this article, we will discuss and cover HUD Guidelines after a loan modification to qualify for FHA loans. A mortgage loan modification is when a homeowner asks their mortgage lender to change the terms of their current mortgage loan.

What happens when you get a loan modification?

A loan (mortgage) is considered modified if any of the following have occurred: lowering of the interest rate, increasing the term of the loan, converting to a fixed rate or reducing the balance of the mortgage. All of these modifications will result in a lower payment.

If the servicer receives a complete application more than 37 days before a foreclosure sale, it must review the application and determine if the borrower qualifies for a loan modification within 30 days.

What happens if you miss a payment on a loan modification?

Don’t miss any payments or make late payments–you will lose your eligibility to get an Obama mortgage. Be sure you fully understand your responsibilities when applying for loan modification. Again, borrowers who don’t pay on time in the 90 day trial period are considered a bad risk and will be denied permanent loan modification plan.

When does the Home Affordable modification program end?

Scheduled to end on Dec. 31, 2015, the Home Affordable Modification Program, or HAMP, helps streamline the modification process among mortgage lenders and loan servicing companies. Struggling homeowners with various loan types can qualify for HAMP if their lender participates in the government modification program.

How to contact PHH Mortgage for loan modification?

If you are not sure what type of loan you have, please call PHH Mortgage Customer Service at (800) 330-0423. Dreaming about owning your own home?

In rare circumstances, lenders will actually lower the amount you owe, also known as a principal modification. These were more common during the housing crisis when loose lending standards prevailed and home values tanked, leaving many borrowers underwater with their mortgage.

How can I get a loan modification for my home?

Lenders may offer loan modifications to borrowers behind on their payments or close to defaulting on their loan if the borrower can prove they are experiencing financial hardship. In most cases, to get a loan modification you must prove financial hardship such as job loss, illness, or death of a spouse.

How does a credit union work with a mortgage modification?

For this modification, the credit union would use the existing mortgage rate at the time of modification to establish the terms of the new agreement. The credit union would then capitalize any amount in arrearage and calculate the resulting principal and interest payments.

Can a mortgage servicer fail to follow a modification agreement?

The new servicer may then fail to follow the modification agreement that was in place with the prior one. Mortgage servicing regulations require that the former servicers send new ones all of the information regarding loan modification discussions as well as any agreements that have been made.

How to apply for a home loan modification?

1 To be eligible for a loan modification, the homeowner needs to be employed. 2 Lenders will require financials of the homeowner. 3 Tax returns, W2s, and paycheck stubs need to be reviewed by the current mortgage lender. 4 The mortgage lender will come up with a monthly mortgage payment where the homeowner can afford.

Who is eligible for a Hamp loan modification?

Homeowners with Fannie Mae and/or Freddie Mac Conventional Loans may be eligible for a loan modification through the Home Affordable Modification Program, also known as the HAMP. Homeowners who have a mortgage should be aware that private mortgage lenders are not required to honor HAMP, but they certainly have the option to do so.

Can you buy another house after a loan modification?

In most cases, you can get a mortgage to buy another house after a loan modification as long as you haven’t missed any payments over the previous 12 months, depending on the specifications of your lender. But you need to know how your original loan was modified.

How does a mortgage loan modification work in bankruptcy?

The loan modification includes the $4,000 still owed on the arrears claim. If the debtor doesn’t want any more “extra” money to go to the mortgage company, his attorney will have to do two things. First, the attorney will file a motion with the bankruptcy court asking the court to approve the mortgage loan modification.

Who qualifies for a loan modification?

Mortgage modifications are generally available for homeowners who have experienced an unexpected hardship, such as the death of a spouse or a medical emergency, that has made it difficult to make mortgage payments. To qualify for a mortgage modification, you must be able to prove this hardship to your mortgage company.

Scheduled to end on Dec. 31, 2015, the Home Affordable Modification Program, or HAMP, helps streamline the modification process among mortgage lenders and loan servicing companies. Struggling homeowners with various loan types can qualify for HAMP if their lender participates in the government modification program.

Active and retired servicemembers and surviving spouses with mortgages backed by the U.S. Department of Veterans Affairs (VA) can apply for loan modification programs and a variety of other programs designed to help avoid foreclosure.

Is a home loan modification the same as refinancing your home?

A loan modification is different from a refinance. When you take a loan modification, you change the terms of your loan directly through your lender. Most lenders agree to modifications only if you’re at immediate risk of foreclosure. A loan modification can also help you change the terms of your loan if your home loan is underwater.

How to negotiate home loan modification?
- Communicate with your lender. Do not ignore correspondence from the lender.
- you have the right to stay.
- Gather your evidence.
- Enlist the help of a HUD foreclosure prevention counselor.
- Apply for a loan modification.
- Complete the application accurately and promptly.
  
  What are the guidelines for mortgage loan modifications?
  
  Lenders will work with homeowners and can plan a forbearance or loan modification Lenders do not want borrowers home, no matter how much equity they have To qualify for a loan modification, homeowners need to be employed
  
  When to apply for a refinance or loan modification?
  
  You might want to refinance your loan if you’re having trouble making your mortgage payments or if you want to take advantage of a lower interest rate. However, you may also want to apply for a loan modification from your lender. Refinances and loan modifications both have their own benefits and drawbacks.
  
  What does it mean to have a loan modification?
  
  If you can’t afford your current mortgage due to a financial hardship, and you want to stay in your home, we may be able to change certain terms of the loan — such as the interest rate or the time allowed for repayment — to make your payments more affordable. Any change to the original terms is called a loan modification.
  
  In this article, we will discuss and cover HUD Guidelines after a loan modification to qualify for FHA loans. A mortgage loan modification is when a homeowner asks their mortgage lender to change the terms of their current mortgage loan.
  
  How to contact Wells Fargo for loan modification?
  
  Call 1-800-678-7986 for help with your payment issues. For New York City residents, pursuant to New York City regulations, we request that you contact us to share your language preference. For Home Equity or Mortgage accounts, please contact us at 1-800-416-1472 . For all other account types, please contact us at 1-866-298-5032.
  
  When did the HAMP loan modification program end?
  
  The HAMP program expired in December 2016, however we have other options available that can be discussed when speaking to one of our certified coaches. In order to avoid foreclosure, your lender may agree to modify some or all of the terms of your loan.
  
  Can a person in default get a loan modification?
  
  “Sometimes, a borrower who has experienced financial setbacks, which makes a default imminent, can qualify for a loan modification. But not everyone in default under their mortgage is eligible for a loan modification,” explains Whitman.
  
  What happens to your credit after a loan modification?
  
  Most likely, if a financial setback is the main cause of your loan modification, you have missed on your home loan payments before your mortgage was modified. Missed payments reflect badly on your credit report and will plague your record for a year or two.
  
  Can a home that has been in modification be refinanced?
  
  Loans that undergo a principal reduction, in which the lender reduces the overall loan balance to make the payments affordable, are generally not eligible for a refinance. Such modification agreements stipulate that you have to repay the amount the lender writes off if you later refinance or sell the home.
  
  When a servicer promises to modify an eligible loan, homeowners who live up to their end of the bargain expect the servicer to keep that promise. But sometimes homeowners who have successfully made their trial payments are unable to get the servicer to make the modification permanent.
  
  Can you get a loan modification if you are late on payments?
  
  During the foreclosure crisis and Great Recession, servicers commonly told homeowners that they couldn’t get a modification unless they were late in payments. Sometimes—though not very often—servicers still make this statement. This comment is almost always incorrect.
  
  Do you have to resubmit income verification when applying for loan modification?
  
  In some cases, servicers ask homeowners to submit and then resubmit information when applying for a loan modification. One common scenario involves income verification documents—like pay stubs and bank statements—which can quickly become outdated in the servicer’s eyes.
  
  Where do I get mod for my home loan?
  
  MOD is done at the office of Sub Registrar, and the charge is reflected in EC (encumbrance certificate). The fee charged by Govt. (Sub registrar office) is 0.3% of the Loan amount (0.1% and 0.2%). The fee is to be borne by the customer. MOD or Memorandum of Deposit of title deed is a charge associated with the mortgage of the property.
  
  What happens when mod is cancelled on home loan?
  
  The bank must cancel the MOD and release the property to the borrower if the borrower pays the entire outstanding principal with interest. At this time, the respective bank managers will go to the registration offices and perform a release deed, confirming the release of the MOD to the registration department and clearing the encumbrances.
  
  Call 1-800-678-7986 to talk to us. We’ll: If you’ve already started the loan modification process, you may be able to submit materials online. Questions? Your Wells Fargo home preservation specialist can help.
  
  MOD is done at the office of Sub Registrar, and the charge is reflected in EC (encumbrance certificate). The fee charged by Govt. (Sub registrar office) is 0.3% of the Loan amount (0.1% and 0.2%). The fee is to be borne by the customer. MOD or Memorandum of Deposit of title deed is a charge associated with the mortgage of the property.
  
  What is the term mod with regard to a home loan?
  
  The MOD (Memorandum of Deposit) is a key charge that is often payable along with fees like processing charges and so on. MOD is a charge linked to property mortgages and is one of the major added costs that are involved when a home loan is being taken. Banks usually charge anywhere between 0.1-0.5% of the loan amount as the MOD charge.
  
  Can you get a home loan after you did a loan modification?
  
  Can you get a home loan after you did a loan modification or mortgage modification. You can get a mortgage after you have done a loan modification. Loan modifications were quite popular starting in 2009 through 2013. You are not seeing nearly as many since the beginning of 2014.
  
  The bank must cancel the MOD and release the property to the borrower if the borrower pays the entire outstanding principal with interest. At this time, the respective bank managers will go to the registration offices and perform a release deed, confirming the release of the MOD to the registration department and clearing the encumbrances.