We are in the process of selling our house to our son. Today they are to sign all the paperwork with the title company. Yesterday the title company called and said there is a 10K lein on the house but they are unable to find who the lein belongs to because the name and address do not belong to a finance company. What can be done.
JA: Because real estate
law varies from place to place, can you tell me what state this is in?
Customer: It's in California. The name on the lein is a company that does not exist and the address given belongs to a residence.
JA: Has any paperwork been filed?
Customer: I refied my house in May 2007. In the same package was an equity line of credit, so everything was signed at once. For three months I received a bill for the equity line of credit and the new mortgage
. Three months in, Chase bank bought the loan and that's who I started making the house payments to. As soon as Chase became my new owner of my loan, I no longer received a bill for the equity line of credit. Not knowing banking, I assumed it had all been assumed by Chase bank and combined. The equity line of credit was called CBUSA and thats the name of a construction
company. There is no bank or lender called by this name. Title company has done an extensive search and can find nothing on this lein other than it recorded (it recorded 13 months after Chase picked up the 1st
JA: Anything else you want the lawyer to know before I connect you?
Customer: Is there anything that can be done to keep this sale from falling through