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I recently refinanced my mortgage. The company that held the…

Customer Question
I recently refinanced my...

I recently refinanced my mortgage. The company that held the loan before the refinance has sent me two documents that I don't understand and a letter saying they need to be recorded and returned. They don't say who to record with. I don't trust this company to tell me the truth about them. Not trusting them was the main reason for the refi. One Doc. is a "Full Reconveyance" the other is a "Substitution of Trustee" I need some one to talk to about these and let me know in terms I can understand what they are and what if anything I need to do.

Lawyer's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

I am in California, the old lender is based in Texas

Lawyer's Assistant: Has any paperwork been filed?

I really don't know. These are legal looking notarized documents

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Not that I can think of at this time

Submitted: 7 months ago.Category: Real Estate Law
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Answered in 2 hours by:
12/17/2017
Real Estate Lawyer: Barrister, Lawyer replied 7 months ago
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 42,588
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

.

The substitution of trustee is just a document where the person who was holding title to your home under the deed of trust (i.e. mortgage) is now changing because you refinanced and your lender is having someone else act as the trustee.

.

The full reconveyance is a form that transfers the property back to you because you have paid off the first loan by refinancing it with a new loan.

.

The Substitution of Trustee and Full Reconveyance is signed by the present beneficiary and present Trustee under Deed of Trust, whose signatures are notarized.

.

So these are completely standard and normal and nothing to be concerned about...

.

As an aside, I use to be a closing attorney for 4 different banks..

.

.

thanks

Barrister

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Barrister, Lawyer
Category: Real Estate Law
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Experience: 17 years real estate, Realtor. Landlord 26 years

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