Legal Question in Real Estate Law in Oregon

Is there any reason to save old paperwork associated with mortgage loan and mortgage refinance of a home I no longer own? I purchased the home in 1997, refinanced in 1999, and sold it in 2003, and still have piles of paperwork. Is it safe to destroy this paperwork? If not, is there a timeline (after 7 years, for example) when it IS safe to dispose of these materials?


Asked on 1/13/10, 3:10 pm

1 Answer from Attorneys
Daniel Meek Daniel W. Meek

I would advise you never to discard this paperwork. How much space does it take? You are on the hook for at least 7 years after you filed the last tax return for which this loan is relevant. But what if the lender suddenly claims you failed to pay it off? If you have destroyed your paperwork, that will be hard to defend against.

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Answered on 1/19/10, 4:21 pm


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