I've got the buyer; closing is set for the 13th; everything is set...then I get the call that says one of my 100% paybacks is a lien against the house that needs to be paid prior to closing. I told my closing lawyer that it would be paid in full by the sale of the house, but she says she's not sure how that can work. I'm waiting on a call back from my BK lawyer as to getting a proof of payment to give the closing lawyer to show that the loan will be paid by the trustee upon dispursment of funds. Can somebody please help me save getting any more gray hair...everything was going along so smoothly and then this bump in the road. I'm not sure what to do, and it would have to be Friday afternoon.
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John, Virginia
Case Confirmed: 5/20/05
Property Closing: 9/20/06
Buy-out and Discharged: 9/27/06 -
The closing can't settle unless all liens against the house are paid. I seriously doubt that the title company will allow a lien to be paid by the Trustee at some later date.Originally posted by PI_Lvr View Post
The easy way to fix this is to get an updated payoff from the Trustee that does not include the lien, noting that it will be paid at settlement.
Brett Weiss
Maryland, DC and Federal bars
Member, National Association of Consumer Bankruptcy Attorneys
--> Read our Bankruptcy FAQ at [url][url]www.
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The Small Print: This response is for discussion purposes only.
It isn't meant to be legal advice and you shouldn't treat it as
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************************************************** ***************Last edited by HRx; 09-11-2006, 08:24 PM.
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