 Mortgage doc ? (by Jeremy [AZ]) Apr 6, 2008 11:54 AM
 Mortgage doc ? (by Natalie [CA]) Apr 6, 2008 12:37 PM
Mortgage doc ? (by Jeremy [AZ]) Posted on: Apr 6, 2008 11:54 AM
Message:
State Specific Question About: ARIZONA (AZ)
An applicant says her dad is buying her house she can no longer afford. I've looked up some documents on the assessor website and I see a recent doc titled Substitution of Trustee and Full Reconveyance recorded on 3/14/08 that says "The undersigned is the present beneificary and owner and holder of the Note and the Deed of Trusted made by "applicant" as the original Grandtor(s) to Blank Investment, Inc, as the origianl Trustee, for the benefit of Mortgage xxxxx xxxxx Systems, Inc, as the orginal beneficiary which Deep of Trust was recoreded on 11/15/05 as Instrument. . . ."
What does this mean? If daddy's bailing her out then I might rent to her.
--207.200.xxx.xxx |
Mortgage doc ? (by Natalie [CA]) Posted on: Apr 6, 2008 12:37 PM
Message:
"Full Reconveyance" means the loan was paid off.
"Substitution of Trustee and Full Reconveyance" means that the new loan was obtainted on the property and the original was paid of (re-financed, perhaps).
"Beneficiary" is the lender.
"Grantor" is the note holder (person responsible for the loan). --24.4.xx.xxx |
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