@tmcdonald59 wrote:
If your mortgage was paid off why would it matter who paid it off in regard to the mortgage company reporting to the credit reporting agencies that your mortgage account was paid off?
It would not matter to the agencies who paid off the mortgage; the impact would be the same regardless of who paid off the mortgage.
This thread primarily relates to the nature of a mortgage payoff that would be considered a gift to the mortgagor (the actual borrower), whether the donor pays the lender directly or gives funds to the borrower to allow the borrower to pay off the mortgage.
