| Name:
jmccray
Title of Question:
REMOVAL OF LIEN ON PROPERTY |
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Question: In teh midst of refinancing my primary home to Pay off debts, etc incurred from a strat up business. I found out that the mortgage company (now bankrupt)of my commercial property had placed a lien on my property for the amount of the original loan amount. Since they have file bankruptcy, there is no one to contact in regard to following up with this etce. What can I do now? The new mortgage company that the loan was sold to has no idea of what this is about, no records, Documents, etc. Can I still refinance? I don't know what I can do |
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Name:
fred
| Date: September 30, 2005, 4:51 pm
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| Answer:
If the title company is unable to locate the lien holder, they will hold monies in escrow until the issue can be resolved. I suggest that you converse with a local attorney to see if you can have the lien removed by court order since the company is BK and then proceed. Otherwise, you may have to compensate your refi to include the outstanding lien amount. Good Luck!
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| Name:
jason
| Date: December 2, 2005, 12:47 pm
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| Answer:
Contact the Secretary of State where the lender was incorporated. They will have a Registered Agent for that company, hopefull an attorney will be listed who can sign the release documents for you. |
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