Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
Hi, my name is ***** ***** I look forward to helping you, please give me a moment to review and possibly research answers to your question.
Help me understand the facts a little better. You say you went into bk to stop foreclosure but then that you paid off the DOT. I guess, lets start with, did you file a bankruptcy and if so which chapter?
Did you confirm a chapter 11 plan? Did that creditor have representation in the chapter 11? That attorney should be able to get you a reconveyance.
No, what you are describing about changing from DOT to a mortgage makes no sense at all. If the debt is paid off under the plan then it is paid off. Mortgage versus DOT is just the nature of the security instrument which is moot once the debt is paid off.
You should be getting a reconveyance. If you are not, you should file a motion in your BK case.
Does that answer your question?
What do you mean changing the claim from DOT to mortgage? Are you saying that the bank released the DOT and recorded a mortgage that was not signed by you?
What do you mean by the changed the basis of the claim to a mortgage? Do you mean in the Proof of Claim filed wiht the court? Or did you get some other document from them? You do not get the original DOT returned to you, they are supposed to record a full release and reconveyance of property.
Alright, we are close to narrowing this down. So are you saying they filed an amended proof of claim or are you saying they filed one proof of claim and that claim states the security is a mortgage as opposed to a DOT?
Alright, thanks, ***** ***** They specifically state the lien is paid in full. Often times, the terms mortgage and Deed of Trust are used anonymously/interchangeably. I think it is a non-issue and if the lien was a deed of trust, you need to get a release and reconveyance. There will be an address on that proof of claim for who to contact directly at the creditor to get that. If they are not responsive, file a motion to compel in the bankruptcy court.
I don't understand, what is it you want to object to? They are stating that the lien is paid in full and they are owed nothing. I am not seeing what the problem is?
Ok, yes they are just making a generic reference, perhaps different people filled out the form and used the term just to mean a loan secured by the home. Glad you paid it off and good luck.