Archive for the ‘Deed of Trust Basics’ Category
Trust Deed Reconveyance
February 10th, 2011
Question: How do I get a proper deed of reconveyance out of the idiots at Countrywide?
I paid off a loan in full back in July. Thus far, after hours on the telephone being lied to by people at Countrywide and their child company, Recon Trust, I have rec'd two copies (without cover letter) of a reconveyance from Countrywide to Recon Trust. But no proper deed as yet.
How do I hold their feet to the fire? It's no wonder the country is in trouble with idiots like these!
Recon is a subsidiary of Countrywide. When I contacted them, they gave me two telephone numbers (after wading through a very poor automated answering system). One of those numbers took me back to the initial message on their answering system, the other took me back to Countrywide's answering system.
Answer: Country wide's parent company is Bank Of America. You might try writing them a letter threatening legal action since you have been trying to get a re conveyance since June.
With the Recon Trust company representing Country Wide you might also threatened with legal action also.
If you received two copies,perhaps you can find a local title company to confirm that the deed has been transferred to you.
I hope this has been of some use to you, good luck.
"FIGHT ON"
Quick Reconveyance Method
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Trust Deed Reviews
January 31st, 2011
Question: purchasing condo reviewed the estimated closing statement. $30.00 chrg 4 Grant Deed & $100 4 Trust Deed Why?
I am purchasing a condo I just reviewed the estimated closing statement. There is a $30.00 charge for a Record Grant Deed and also a $100.00 charge for Record Trust Deed. Why do I need both? Or do I ?
Answer: The deed is the evidence that you are the owner and the recording fee is what the county recorder charges to "make it public record".
The Trust Deed is more complicated, is it the instrument (the legal device) that attachs the loan you have to the property since the condo is security for the loan. If you pay off the loan then the Trust Deed goes away. The grant deed never goes away until you sell it.
If you put another loan on the property, like a second, or a line of credit, then you have to pay for another Trust Deed.
How Trustee Sales Work (Part 2)