Your mortgage paperwork is one of the documents that you’ll have to keep safe for a long time. While we can hope that your house and documents will remain safe, accidents happen. From fire to flood, the natural course of life means that you need to be prepared in the event of an emergency. Here are some tips for keeping your paperwork safe from an accident:
- Make multiple copies, both digital and physical. Scan all mortgage documentation and deeds into a folder on your computer. It’s better to store these items online, as opposed to saving them on a hard drive. Physical items can be destroyed or rendered obsolete. Online storage, such as Google Drive or the Cloud, can help protect your digital scans.
- If possible, store an extra set of documents off-site. Whether this is at a trusted family member’s house or even your office at work, be sure to save a hard copy somewhere other than your home. If something happens to one set, you’ll have access to the other.
- Invest in an organization system for all of your documents. Being a homeowner means a more complicated tax situation. You’ll want access to any receipts or documentation of repairs and improvements. These will need to be reported on your taxes, especially if you are looking to claim deductions.
- Make that everything is in its place as soon as you’re done referencing the materials. Anyone who has lost their keys or wallet can attest to the frustration that one feels when you desperately need something and it’s nowhere to be found. If your documents are filed away as soon as you’re done accessing them, you won’t have to worry about where they are the next time you need them.