Replies to This Discussion

Permalink Reply by Kent Dills on January 26, 2010 at 9:09am

Cindy, if I'm reading your question right - you need to bring this to the attention of the title company/attorney who did the closing. They are responsible for getting all the post-closing paperwork to the discounting lender so they release their lien enabling title company to record the new deed in the new buyer's name.

Permalink Reply by Cindy Greenya on January 26, 2010 at 9:24am

Yes, we have and we have provided the proof of wire transfer to the bank but I will check with the post closer to ensure they received everything they need.

Permalink Reply by Robin Rowland, GRI, CSP on January 26, 2010 at 9:38am

I had something similar with B of A. We closed Nov 16 but the check (no wire) wasn't cashed until Dec. 24. The escrow officer had to call and call and call but it finally was fixed.

Permalink Reply by onn on January 26, 2010 at 9:42pm

Cindy, I just closed escrow on a short sale with Chase on 1/22/2010 and also having a hard time confirming that they received everything they need to zero out the loan balance and remove the liens. More importantly, on 1/24/2010, Chase directed LPS to drill down the deadbolts at my house and technically took possession of the house, thinking that it's their own. I have the proof of the grant deed recorded under my name now, but still, cannot be sure whether they can come after me and my property or not. I contacted one of the chase property preservation department and they told me that they still see a loan balance. How are you handling this? Any help is greatly appreciated. I am now trying to get in contact with the closer- perhaps do you have any contact information from Chase that can help expedite the process? Please help.

Permalink Reply by Cindy Greenya on January 27, 2010 at 12:55am

I'm using my "squeaky wheel gets the grease method". Since I feel that the final phase negotiator should be able to direct us - he is hearing from us yet again! I contacted the closing company and received a copy of the proof of wire transfer. I have the post closer contacting Chase through her methods. The seller and I are both contacting the 3rd phase negotiator by e-mail and phone.

This is the response from my seller "Dan Porter just called me! Apparently this is a common problem on their end. He contacted the appropriate management and supposedly my credit is getting fixed today and should be reflected by the end of the month. I'll check it again next week but, hopefully the problem will get resolved. Seriously .... thank goodness for Dan Porter - the only employee at Chase I feel that can get something done!"

Hopefully, our persistence paid off! You can try contacting Danny Porter but he was our third phase negotiator but he may be kind enough to forward you to the appropriate person... I would suggest persisting with your final phase negotiator but his contact info is [email protected]. You don't have to let him know that I gave you his info :)

Permalink Reply by Stephen B. McWilliam on February 6, 2010 at 12:36pm

There is a provision in the standard FNMA styled mortgages that permit the Lender to take control of the property to preserve and protect the asset if it has been abandonded. The homeowner is always free to take control back up until the foreclosure.