Option One/AHMSI old stuff on your title search?

sellingsoon · 09-04-2008, 08:13 PM

We are only a few weeks from closing on our house. Apparently there are several old things on our title which turned up during the title search phase. Now my title company is having to contact AHMSI to get a document stating they are the sole owner of the title. Has anyone else had this experience? If so how did you resolve it and how long did it take. Any inside info would be appreciated. We financed through H&R Block and the rest has been selling our loan to Option One and then their reorganization (?) into AHMSI. I just hope this is a minor glitch and not something that is going to knock us out of selling our home. HELP.

Val Rye · 09-08-2008, 01:40 AM

Hello sellingsoon,

Welcome to LoanSafe.org !! I have a few questions and maybe a few answers. First, is the sale of your home contingent on a specific closing date? Is property in foreclosure, or a short sale? It seems that the title company should have the time it needs to resolve this matter, unless there is a reason that time is of the essence.

The title company knows how to do their job, and I am sure they know what they are looking for. It sounds like the are trying to get a payoff for the loan and making sure that they pay the right lender the money, and that all who are owed money are contacted.

Sounds to me, based on what you have told us, that it will be a minor glitch. Please let us know the outcome. Hoping all goes well, and you make your move on time.

sellingsoon · 09-08-2008, 06:26 AM

Thank you so much. You have helped put my mind at ease. There are no problems with the property, no foreclosure or short sale or second mortgages or anything. We are closing on Sept 25th. Apparently the last title company simply did sloppy work and didn't remove five old account (a few of which were home equity loans and the others I don't even know what they were). We had a clear title in 05 when the loan was moved to H&R Block. It is now just a matter of getting a Hold Harmless from the title company that did the work.

Val Rye · 09-08-2008, 08:56 AM

Well, it sounds like they will get things done, and hopefully things will stay on schedule. Stay in touch with the title/escrow company and your real estate agent, if you are using one. It keeps them on top of the situtation if they know you will be calling in to check status. As you already know, they are working to protect you too.

Be safe in your move, and good luck with where you are going !