IT HAS BEEN BROUGHT TO OUR ATTENTION THAT A MORTGAGE THAT CONTAINS A MATURITY DATE IS ONLY GOOD TO THE EXCUTING INSTITUTION FOR 5 YEARS DUE TO THE STATUE OF REPOSE,IT WAS MY UNDERSTANDING THAT THE MORTGAGE WAS GOOD FOR TEN YEARS PAST MATURITY DATE.HOW LONG DO YOU HAVE TO FILE A MORTGAGE MODIFICATION TO EXTEND THE MATURITY DATE AFTER A MORTGAGE HAS MATURED AND RETAIN OUR FIRST POSITION?

At my previous employer (Kentucky) an attorney stated that we should record a modification if we extended the mortgage over one year.

Be sure to check your State Statutes. In Indiana, the mortgage is good for 10 years from the time the last installment of the debt secured by such mortgage or vendor's lien becomes due, as shown by the record thereof.

If no maturity date is shown, the mortgage will expire twenty years from the date on which the mortgage or lien is executed.

We can file an affidavit to extend the lien within the 10 year or 20 year period, whichever applies. (As long we are not trying to extend it to cover a new debt.)

I agee with Anon, any modification done to a mortgage should be filed to get the changes in the mortgage on record and to extend your expiration time.