The LA Times has an amusing yet serious article on why you should not actually burn your mortgage once you have paid it off. Besides the obvious danger of catching your house on fire, you will need evidence that your loan is paid in full if and when you decide to sell. You need the satisfaction of mortgage from your lender, which should be filed with your county property recorder along with the original mortgage and note. If you burned them, you will have trouble passing a clear title to your home.
If you absolutely must burn something, burn a copy.
[via Consumerist]
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