Closing documents on a home will consist of the mortgage paperwork, deed and title information. This information should be kept in a secure location for as long as you own your property.
Selling or Refinancing
When selling or refinancing a home, the original mortgage paperwork can be destroyed or disposed of once the transaction is complete. Once a homeowner has completed a sale or refinance, all of the information in the original mortgage paperwork is nullified, and it's no longer legally enforceable.
According Liz Weston with the MSN Money Website, keeping mortgage documentation should be done for the life of the loan. The life of the loan is the amount of a time a home is owned prior to selling or refinancing, or until a mortgage is paid in full.