BOA --- Sent a Fed Ex Document saying my 2nd mortgage is forgiven

[Fallonedward]

With my luck, they will grandfather all of the folks...but all in all.... I'm very happy

unless the bk courts pass something to contrary, which would be after the fact anyway, exactly.

[tobee43]

With my luck, they will grandfather all of the folks...but all in all.... I'm very happy

as well you should

[pinkpeanut01]

Sorry to bump an old thread, but I thought it made more sense than starting a new one.

I am wondering if anyone who got this settlement debt forgiveness letter ever received follow up documentation? We received a letter in Oct. 2012 forgiving our 2nd mortgage in full, but I haven't heard anything since. It was IIB. I was under the impression we would get some sort of finalization paperwork, and the letter said the loan would be paid off in 30-90 days. Since it has been longer than that, just wondering if anybody's received anything.

[TBA]

check to see if there was a satisfaction or release of mortgage filed with your town/county clerk/recorder. You might find more information there.

[walkthaplank]

Just checked my county recorder's online records and BofA filed a reconveyance in December. Haven't gotten anything in the mail as yet, but it is there in black and white... pixels.

[LadyInTheRed]

so nice to c u 2! this will be an excellent way to get rid of that mortgage once and for all! best of luck with it.

IBroke, yes, since it is IIB it really shouldn't be a problem. we will see how those "new" potential lien stripping options work for 7's. i'm still not really clear on that one. i'd rather deal with a congressional act protecting the situation. although, a clearly defined law in the fed bk codes could do it.

There already is a clearly defined law in the Internal Revenue Code. No other law is necessary even after the Mortgage Forgiveness Act expires. 26 USC § 108 excludes from income any debt that was discharged in bankruptcy. Somebody who files BK before their mortgage is forgiven does not need to rely on The Mortgage Forgiveness Act. Neither does somebody who does not file BK but can prove they were insolvent before the debt was forgiven.

[pinkpeanut01]

check to see if there was a satisfaction or release of mortgage filed with your town/county clerk/recorder. You might find more information there.

Just checked my county recorder's online records and BofA filed a reconveyance in December. Haven't gotten anything in the mail as yet, but it is there in black and white... pixels.

Duh. Thank you!! I just checked online and it was satisfied Jan. 3!

[bcss]

Congratulations. Just make sure the documents are recorded. I once got a lien release that wasn't recorded and I had to do it myself. I didn't realize the it had to be recorded to release the lien on my house.

[malf1204]

I read the other day that banks are including these forgiven debts discharged in BK as part of the billions in relief they are supposed to be giving homeowners due to the mortgage settlement. It certainly does not seem to be within the "spirit" of the settlement but it seems that they do what they want without repercussions.

http://www.nytimes.com/2012/09/30/business/when-banks-erase-a-debt-that-isnt-there.html?_r=0