We received two documents from our County recorder in Sacramento ca.
I don't know what they mean for us. One is a Substitution of Trustee and the other is a Full Reconveyance ont the Heloc. When I google these terms they appear to be removing the lien, like when the loan is satisfied.This second, Heloc, is in default for 20 months, the first is current. the property taxes were behind but are on a payment plan now. We have had the second bounced to three different CA's and back to the original lender. We have talked on the phone once, they call every day, and they spoke of settling the $50k helocn for $15k which we passed on. Then in the mail we got these recorded documents with the right address description and the right loan number. We got no letter of forgiveness or notice of any kind just the docs.
What does this Full Reconveyance mean? Is the second gone? Is the debt still there? Second was charged off June of 2011. No more calls from the lender this week. House is underwater below the first. We live on my SSDI and Dis pension and they know this.
I have asked a title company for a property profile and they did not show on there, at least not yet. I asked our local free legal advice call center and they had some potential ideas what they mean, but recommended spending some money on a real estate lawyer's advice. Last I checked with a real estate agent we know and she said to just call the lender to see what they mean.