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Payout Date (Discharge Date)

The date a mortgage is paid in full and discharged, thus releasing the borrower from all obligations and covenants contained in the mortgage.

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Last modified: July 23, 2010

Robert McLister is one of Canada’s best-known mortgage experts. A mortgage columnist for The Globe and Mail, interest rate analyst and editor of MortgageLogic.news, Rob has been covering Canada's mortgage market since 2007.

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