any attorney's or experts?? title examiner mistake - Posted by ehendrix

Real Estate Investing
#1

Posted by dewCO on December 01, 2000 at 11:48:57:

Your post is confusing. If the attorney did the forcl on the 1st, he’s got nothing to do with the 2nd. The 2nd should have been wiped out, no? Or hasn’t this gone to sale yet?

If it hasn’t gone to sale the title company missed it, yes, but since nothing has closed, they have now found it, and you are dealing with it.

Yes, negotiate a small pittance for the 2nd and then they sign a release of lien and they get their money. Title company should be able to tell you the steps involved. Don’t pay before they sign the release, which should satisfy the title company.

#2

any attorney’s or experts?? title examiner mistake - Posted by ehendrix

Posted by ehendrix on December 01, 2000 at 07:30:02:

looking for any input here… successfully bid on a hud foreclosure in cinti. oh area. the day before closing i received a call from contract processor indicating that the foreclosure attorney/title examiner failed to include a 2nd mortgage along with this foreclosure. oops! 2nd mortgage amount 6k. i spoke with attorney who handled the foreclosure and he was obviously laying it off on the title examiner who missed it.the obvious solution would be that the title insurance should pay for this. unfortunatley the actual title examiner who performed the search was new and not active on the companies insurance policy. yeah right.regardless, this property is a good deal and i don’t want to let it slip by. i have been speaking with the 2nd mortgage holder as well as the foreclosure attorney to try and accelerate a solution. the 2nd mortgage holder will accept a substantially reduced amount just to settle it. i offered to kick in 1k just to nudge it along and that sparked interest in resolving it. my question:what type of documentation should i request from foreclosure attorney to assure that the 1k i will be sending him will in deed be applied along with his money to release this mortgage?