Reconveyance Question, Please Help!

[Acadian]

Greetings to All,

about 10 years ago (1998) my wife and I refinanced our home. Our first mortgage was in 04/27/1993
About a month later we received from the county recorders office a document that was recorded by the bank that we received our loan from.

The document says "FULL RECONVEYANCE" on it.

And reads:
"FULL RECONVEYANCE"
"Whereas, the indebtedness secured by the deed of trust dated 04/27/1993 and executed by [ me and my wife] as Trustor to N. A. MORTGAGE CORPORATION Inc. as Trustee and recorded 05/05/1993 as doc # xxx, book xxx, page xxx, in the office of the recorder.

Property Address xxxxxxxxxxx

Now therefore, the present trustee having received from the present owner of the beneficial interest under said deed of trust and the obligations secured thereby a written request to reconvey by reason of the obligations secured by said deed of trust, Does hereby reconvey, without warranty, to the person or persons legally entitled thereto, the estate, title and interest now held by it under said deed of trust in said county, xxx, describing the land therein as more fully described in said deed of trust.

By N. A. MORTGAGE CORPORATION Inc.
as Trustee

[end]


Ok, I took out a loan in 1993, and refinanced in 1998
with "WASHINGTON MUTUAL BANK" (WMB) and they are the ones who requested the "Full Reconveyance".

So, my question is, What does this mean?
What does this pertain to my first loan in 1993 or the second loan with WMB? any ideas?

Am I free from that debt with WMB?

Any thoughts would be appreciated.

Thank you in advance
Acadian

[rottweiler]

What that means is N. A. MORTGAGE CORPORATION Inc. gave up their claim to the deed of trust because WMB "paid" them off on your behalf. Now WMB holds the deed of trust and I assume you are making "payments" to them.

Originally Posted by Acadian

Greetings to All,

about 10 years ago (1998) my wife and I refinanced our home. Our first mortgage was in 04/27/1993
About a month later we received from the county recorders office a document that was recorded by the bank that we received our loan from.

The document says "FULL RECONVEYANCE" on it.

And reads:
"FULL RECONVEYANCE"
"Whereas, the indebtedness secured by the deed of trust dated 04/27/1993 and executed by [ me and my wife] as Trustor to N. A. MORTGAGE CORPORATION Inc. as Trustee and recorded 05/05/1993 as doc # xxx, book xxx, page xxx, in the office of the recorder.

Property Address xxxxxxxxxxx

Now therefore, the present trustee having received from the present owner of the beneficial interest under said deed of trust and the obligations secured thereby a written request to reconvey by reason of the obligations secured by said deed of trust, Does hereby reconvey, without warranty, to the person or persons legally entitled thereto, the estate, title and interest now held by it under said deed of trust in said county, xxx, describing the land therein as more fully described in said deed of trust.

By N. A. MORTGAGE CORPORATION Inc.
as Trustee

[end]


Ok, I took out a loan in 1993, and refinanced in 1998
with "WASHINGTON MUTUAL BANK" (WMB) and they are the ones who requested the "Full Reconveyance".

So, my question is, What does this mean?
What does this pertain to my first loan in 1993 or the second loan with WMB? any ideas?

Am I free from that debt with WMB?

Any thoughts would be appreciated.

Thank you in advance
Acadian

[Acadian]

Thank you rottweiler for the quick response.

After posting this I looked a little deeper and figured that the reconveyance was for my first loan.

Thank you for clarifying it for me.

I guess I won't be getting all those years of payments back ....Bummer... Oh well only four more years left on this loan.


Peace to you and yours rottweiler.

Acadian