Need help w/HUD-1 with Citi as second lienholder!

Hi all,

This is the file that would not die.

Chase is 1st lienholder. Citi is second lienholder.

Homeowner has gone thru a BK7 which has been discharged.

Chase offered homeowner $20K on HUD if owner sold house for market value.  We have an offer over market value -- offer accepted by Chase, Chase put together HUD-1, HUD-1 passed along to Citi, Citi is balking at the $3K Chase is offering them to release the lien.

Basically they won't release lien for $3K when Chase is giving homeowner 20K. In fact they will only release lien for $15K and not at all if the $20K shows up on the HUD-1 to the seller.

Ideas?

Views: 86

Replies to This Discussion

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on February 14, 2012 at 2:44pm

Coleen -  I would contact the seller's BK attorney.  If that lien was discharged in the BK - he / she might be able to intervene.

Permalink Reply by Coleen DeGroff on February 14, 2012 at 3:34pm

Hi Thom - Thanks for responding. I'll look into this idea -- maybe it could work. Who knows? Appreciate your input.

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