2nd "Forgiven" by BofA - Received: Notice of Reconveyance - is that good?

[al91206]

What is the name of your state (only U.S. law)? CA

In January, I believe as part of the DoJ settlement I got a full forgiveness of my 2nd Home Loan, though it was noted I will need to pay taxes on the amount forgiven. Helped I was underwater, etc etc etc.

The process went through in late May - about 2 weeks ago - I checked. Yesterday however, sitting on my door today was a letter.

Inside was a "Substitution of Trustee of Full Reconveyance" - seems legal-like and I, of course, am nervous.

More on the paper: "Whereas - my name - is the Trustor, PRLAP INC is the current trustee and Bank of America, NA is the current beneficiary undre certain Deed of Trust dated 8/2/2005 and recorded on 10/14/2005, as instrument or document .... in page ... official records of LA, CA

whereas the undersigned beneficiary hereby substitutes a new trustee RECON TRUST company under said Deed of Trust and Trustee does hereby reconvey without warranty o the person or persons legally entitled hereto, the estate now held by Trustee under the Deed of Trust"

Confusing enough? LOL .. hope this is not something bad ... is it??????

 

[Just Blue]

What is the name of your state (only U.S. law)? CA

In January, I believe as part of the DoJ settlement I got a full forgiveness of my 2nd Home Loan, though it was noted I will need to pay taxes on the amount forgiven. Helped I was underwater, etc etc etc.

The process went through in late May - about 2 weeks ago - I checked. Yesterday however, sitting on my door today was a letter.

Inside was a "Substitution of Trustee of Full Reconveyance" - seems legal-like and I, of course, am nervous.

More on the paper: "Whereas - my name - is the Trustor, PRLAP INC is the current trustee and Bank of America, NA is the current beneficiary undre certain Deed of Trust dated 8/2/2005 and recorded on 10/14/2005, as instrument or document .... in page ... official records of LA, CA

whereas the undersigned beneficiary hereby substitutes a new trustee RECON TRUST company under said Deed of Trust and Trustee does hereby reconvey without warranty o the person or persons legally entitled hereto, the estate now held by Trustee under the Deed of Trust"

Confusing enough? LOL .. hope this is not something bad ... is it??????

Huh???????????????????????

 

[FlyingRon]

There were several remedies given by the BofA DOJ settlement. Some just absolve you from personal liability but leave you with the lien against the property. It looks like this may be what happened to you. RINCON is part of BofA.