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Not a problem until it's a problem...

December 02, 2011 10:27AM
So, it doesn't sound like this is, in fact, a problem for you (yet). The original lender's title order ought to be referenced on the recorded TD's (both the Heloc and the standard TD). I'd start by contacting the original title company who issued the lender's policy and see what their position is. DON'T give them any hint of your immediate concern.

Don't panic just yet. Just order a prelim from them and see what's on it. That company provided a policy based on the original lender's escrow instructions. Unlike Kristine, I haven't seen a deal yet where the Heloc was intentionally recorded in senior position by a conventional lender.

Also, the county recorder may very well have screwed up, not understanding the significance and importance of following instructions exactly as directed. Remember, these same recdorder's office people walk among us and are issued driver's licenses.

The title plant records may tell an entirely diffferent story and this may help you, too. If it WAS intended that the Heloc record in 2nd (jr) position, a subsequent insured transaction may show it title's records as the Heloc being wiped off via the sale as you interpreted the loan positions.

As a final word, there are t-sale buyers with big stones who routinely bid on these deals knowing that they might need to litigate later to clear title.
Subject Author Views Posted

Title calamity - TD's recorded in wrong order

flipit 4360 December 01, 2011 10:13PM

Re: Title calamity - TD's recorded in wrong order

mikebick 2896 December 01, 2011 10:23PM

Re: Title calamity - TD's recorded in wrong order

flipit 2828 December 01, 2011 10:33PM

Re: Title calamity - TD's recorded in wrong order

mikebick 2972 December 01, 2011 11:28PM

Re: Title calamity - TD's recorded in wrong order

flipit 2980 December 02, 2011 06:52AM

Re: Title calamity - TD's recorded in wrong order

Kristine-CA 2956 December 02, 2011 09:02AM

Re: Title calamity - TD's recorded in wrong order

flipit 2810 December 02, 2011 06:36PM

Re: Title calamity - TD's recorded in wrong order

Kristine-CA 2788 December 02, 2011 07:27PM

Re: Title calamity - TD's recorded in wrong order

flipit 2789 December 02, 2011 08:51PM

Not a problem until it's a problem...

Rick Harmon 2793 December 02, 2011 10:27AM

Re: Not a problem until it's a problem...

flipit 2746 December 02, 2011 06:40PM

Re: Not a problem until it's a problem...

Bill H 2876 December 02, 2011 07:50PM

Say Bill, do you do lunch?

Ward-CA 2793 December 02, 2011 11:53PM

Re: Say Bill, do you do lunch?

Bill H 2936 December 03, 2011 05:26PM



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