{"id":3128,"date":"2017-09-11T09:11:57","date_gmt":"2017-09-11T13:11:57","guid":{"rendered":"https:\/\/www.zolo.ca\/news\/?post_type=encyclopedia&#038;p=3128"},"modified":"2021-08-03T18:26:42","modified_gmt":"2021-08-03T22:26:42","slug":"cessation-of-charge","status":"publish","type":"encyclopedia","link":"https:\/\/www.zolo.ca\/blog\/glossary\/cessation-of-charge","title":{"rendered":"Cessation of Charge"},"content":{"rendered":"<p>A cessation of charge ends is the official termination of a <a href=\"https:\/\/www.zolo.ca\/blog\/glossary\/mortgage\">mortgage<\/a>. A cessation of charge is a legal&nbsp;method of dissolving all the agreements of a mortgage, either upon completion of payment by the borrower or due to a cancelled mortgage contract. This official termination&nbsp;of the mortgage takes place within the Land Titles System.<\/p>\n","protected":false},"author":3,"template":"","meta":[],"class_list":["post-3128","encyclopedia","type-encyclopedia","status-publish","hentry"],"acf":{"custom_title":"What does cessation of charge mean?","why_important":"<p>A cessation of charge ends all the agreements of a mortgage upon completion of payment. This is important as a mortgage loan is often secured against a house and the debt can out last any one particular home owner. Without a cessation of charge, the record of the debt would remain on the title to the home and could hinder future borrowing applications or options to sell the home.<\/p>\n","examples_of":"<p>Most people take out a mortgage in order to pay for a house\u00a0and this loan is then paid off over a period of years. If you bought your house with a 20-year mortgage and made your monthly payments for that entire time-period, at the end of 20 years you would receive documentation from your lender to confirm a cessation of charge has been filed at and that your\u00a0mortgage terms have been fulfilled.<\/p>\n"},"_links":{"self":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/encyclopedia\/3128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/encyclopedia"}],"about":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/types\/encyclopedia"}],"author":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"wp:attachment":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/media?parent=3128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}