Loan Modification Forum - LoanSafe.org - View Single Post

CWMATT · 11-05-2008, 07:59 AM

Nearing what I think is the home stretch and of course there is an issue. The DIL and promissary paperwork has been sent back but it is pretty explicit regarding there not being any other liens on the property. I got a code violation letter last week from the city regarding the condition of the pool and their intention to place a lien on the home.

Now it becomes a race between the city placing a lien on the property and the lender taking possession.

The attorney repulls title (which would be the 3rd time) before final approval. If the city gets a lein on the property before the DIL process is completed then the deal is dead.

11-05-2008, 07:59 AM	#18 (permalink)
CWMATT Member Join Date: Aug 2008 Posts: 27 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW Deed in Lieu SUCCESS!! Nearing what I think is the home stretch and of course there is an issue. The DIL and promissary paperwork has been sent back but it is pretty explicit regarding there not being any other liens on the property. I got a code violation letter last week from the city regarding the condition of the pool and their intention to place a lien on the home. Now it becomes a race between the city placing a lien on the property and the lender taking possession. The attorney repulls title (which would be the 3rd time) before final approval. If the city gets a lein on the property before the DIL process is completed then the deal is dead.