What does certificate of satisfaction mean concerning a completed Short Sale?

[ilzhoefer]

I just looked up the deed on the property that I short sold a few months ago and there is Certificate of Satisfaction, but of course I can't view the document.

What does certificate of satisfaction mean? Are they waiving the right to pursue the deficiency?

[foofighter74]

That is my understanding, yes. 

[ilzhoefer]

So basically all they can do is 1099-c me?

It's been 5 months and still nothing in the mail.

That is great news that they waive the right for a deficiency amount.

I was told this, but never saw any docs.

[ilzhoefer]

Ok, in looking at the certificate of satisfaction I am confused.

What does this mean:

"Satisfaction of Security Instrument Deed Only"

"The undersigned is now the secured creditor in the security instrument identifies as follows:

Type of Security interest: Deed Of Trust

Original Grantor.......My name.....

Original Secured Parties : JP Morgan Chase

This satisfaction terminates the effectiveness of the security instrument."

So does this mean they will pursue any deficiency judgment or that they will not pursue a deficiency judgment or do this have nothing to do with a deficiency judgment.

Thanks.