Satisfaction

At the end of your forgiveness schedule, the forgivable loan will be satisfied without the need for a satisfaction request, your final forgiveness letter will indicate any outstanding amounts owed.  Once the final letter is signed and remitted and any outstanding fees submitted, then the satisfaction process can begin.

Once the satisfaction piece has been created, the satisfaction piece must be recorded with the City of Philadelphia Office of Deeds. All recording fees will be the responsibility of the borrower.  Please allow sufficient time for this process to take place when considering refinancing or the selling of your home.