I have a property that I have that has three liens or judgements on it when I bought it but the title company said they were insured , but countrywide wont loan me money if they are on the title even if they are insured. Does anyone know where I can get this prop financed with these still on the title. ANY HELP IS APPERECIATED tHANKS SO MUCH!!!
Hi,
You will need to either retain an attorney and force your original title company to pay the liens off by way of insurance or you will have to agree to pay the liens off in escrow through new financing.
There is no lender in the world who is going to loan money on a property with liens, as the lien holder has the right to force a sale to recieve payment.
Get an attorney and forcefully clear the title or suck it up and agree to pay the liens off through a refinance.
Good luck,
GR
HEY
I thought that was the way it was in this business you get a property sold for enough to cover outstanding loans /leins ect
As well they had to be payed by any new funds so the new loan person/company has clear title
And in a refi i am thinking it would be the same /put all your leins loans into one loan not two three ect
I have borrowed money before as long as there was title ins and this prop has it but bank still says no. I dont understand if its ins. They cant lose. I was hoping for an alternative answer for financing? Thanks