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    Re: closing gone bad to worse

    Posted by Frankie on 7/21/08

    Please elaborate on your statement regarding the paperwork:
    what paperwork? Has the deed been signed? Who's funds were
    used to pay off the mortgage: yours or the buyer's? What fees
    are still owed, since the escrow account still has the $24K in
    it for the closing costs? What fees is the title company
    waiting for?

    On 7/19/08, Burt wrote:
    > Brooklyn, New york
    > I sold a two family property in brooklyn, New york
    > 12/22/2006. At the closing there was an equity loan that
    > was paid but the satisfaction letter was never submitted.
    > It was aggreed at the closing that upon the receipt of the
    > letter all paperwork would be transfered and remaining
    > funds(closing cost) released from the banks attorneys
    > escrow accounts .
    > Two weeks later the satisfaction letter was recorded.
    > Unfortunately the banks attorney for the lender escrow
    > account was seized by the AUSA. The ony money that was in
    > the escrow account from this transaction were the closing
    > fees in the amount of $24k. The title co. states that the
    > deed will not be transfered until all the fees are paid
    > all though the paperwork has been signed and dated.
    > NYC records show that I am still the the only person on
    > the deed with all leins an mortgage satisfied. My lawyer
    > at the time no longer returns my calls. The buyer states
    > its not her problem. The buyer's lender option one
    > mortgage stated just write us a letter and we will forward
    > it to the buyer? I recieving tax statements,and water
    > charges.
    > I even chnged the locks on the door. All they did was
    > change them back. It would take at least 3-6 moths to
    > attempt to get an eviction in nyc housing court mind the
    > transaction. The last two attorneys I spoke with stated
    > they ould not be sure where to begin? And suing cost is an
    > issue
    > Q.Is the title company responsible and would it be
    > feasable to sue
    > Q. Can I legally sale this property again, this thing has
    > been going on close to two years.

    Posts on this thread, including this one
  • closing gone bad to worse, 7/19/08, by Burt.
  • Re: closing gone bad to worse, 7/21/08, by Frankie.
  • Re: closing gone bad to worse, 7/22/08, by Burt.
  • Re: closing gone bad to worse, 2/19/09, by katie.

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