After repaying a First Preferred Ship Mortgage, the lien must be officially removed from the vessel’s Coast Guard documentation record. This is done through a Release of Mortgage form, submitted to the United States Coast Guard. At the National Documentation Portal, we offer a straightforward, user-friendly platform that helps owners file this form properly and…
There’s no bigger relief than that coming from finally fulfilling your vessel mortgage. However, before you get to fully enjoy that satisfaction, you will have to submit some paperwork, including your release of mortgage form, to the United States Coast Guard. Let’s talk about what that process is like. What is a Release of Mortgage?…
Have you almost paid off your Preferred Ship’s Mortgage and are wondering what comes next? Do you know what to do after you’ve paid the loan back? There’s an old joke you may have already heard: “The two happiest days of a boat owner’s life are the day they buy the boat and the day…