Due On Sale Clause Looming....How Best To Respond?
hi all,
I took a house subject to the existing financing a few months back. we used a warranty deed to put me on title. i took out a second to pull my re-instatement cash back out. much to my surprise, countrywide, through a company called Simple Assumptions, has sent me a letter.
it indicates "it has come to our attention there may have been a transfer of title on the property." they are asking for documentation regarding this transfer.
i cant ignore this, i will send them the info with a letter stating i will be servicing the loan.
has anyone experienced this? any advice on how best to proceed? what should i expect from countrywide? and what kind of timeline?
thanks, brian
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