SETTLEMENT & CLOSURE- A GUIDE TO MORTGAGE REDEMPTION THROUGH TREASURYDIRECT
Settlement and Closure: A Guide to Mortgage Redemption Through Treasury Forms is a physical book that guides homeowners through redeeming their mortgage using U.S. Treasury forms. Based on the real experience of a borrower named Kris, this book is written for everyday people seeking clear, practical steps to settle their mortgage debt with funds from Mortgage-Backed Securities (MBS).
This is a physical book, not an e-book, allowing you to hold it, make notes, and refer to it as you navigate the process. It explains complex concepts in simple language, using Kris’s story to illustrate how she completed her mortgage redemption. The book covers:
- Clear Instructions: Learn how to check if your mortgage is securitized, find your CUSIP number, and fill out Treasury forms with examples from Kris’s case.
- Helpful Templates: Includes templates for a RESPA Request for Information letter, foreclosure delay request, and documents necessary to complete redemption to simplify communication with your servicer and the Treasury.
- Kris’s Experience: Follow her journey, including her securitization audit that revealed her mortgage was in a Ginnie Mae trust, and how she negotiated with her bank.
- Legal Basics: Understand key laws, like RESPA and homestead protections, to know your rights and identify potential servicer errors.
- Practical Advice: Get tips on handling name changes, obtaining a Medallion Signature Guarantee, and tracking your Treasury submission.
Notable sections include:
- Chapter 4: Explains Kris’s securitization audit, with a redacted report showing how she confirmed her mortgage’s trust and CUSIP number.
- Chapter 6: Shares ways to negotiate with your servicer, including a template to request a foreclosure delay if you’re at risk of losing your home.
- Chapter 8: Provides Kris’s RESPA letter and a template to request loan details from your servicer.
- Chapter 12: Lists next steps, from sending your RESPA letter to mailing forms to TreasuryDirect.
Ideal for homeowners who want to handle redemption themselves and prefer a physical guide to keep handy, this book helps you understand the process without third-party involvement. It’s not legal or financial advice and encourages consulting professionals for your specific situation.