Help With Lien Situation?
Hello is there anyone out there that can give me some advice on this. I live in a house that is owned by my uncle and I am currently in the process of refinancing his mortgage into my name and he is going to sign over the deed into my name. I made it all the way to closing and the title company found that he had a lien on his property and said that I had to borrow 8,214.00 more to clear the lien off so that I can go ahead with the purchase. My uncle had co-signed for an apartment for someone else and they moved out and did not pay the rest of the lease. Is there anything that I can do to get this $8,214.00 back. After all I had to borrow this for a bill that
is not mine. I will end up paying the lien and my uncle and the people he co-signed for get to go scott free. :-? :-?
Well call up the lein holder and attempt to get them to discount. I did this once where we made up a very elaborate story about how I was angry at the guy who was in your uncles shoes and wanted to stick it to him and I'd push to collect. Got a 50% discount. Then you can feel like you were only taken advantage of half as badly.
Commerialking I tried this already and they will not give me a discount. So I'm stuck with it but I want my money back.
>> I want my money back
Have you already paid the lien or have you not paid the lien??
If not (1) ask for release of lien only. they might release the lien so you get clear title but still stick it to your uncle. (2) did the apartment complex rerent the unit? they must make an effort to rerent. Once the unit is rerented, the ex-tenants are not liable for the remainder of the lease from the rerent date.
Brenda
Hey Brenda I know it has been two months or so since you replied to my posting but I am still going throught the drama. I paid the lien. THe mortgage company extended my loan so that I could cover the lien. My uncle had agreed to pay me monthly payments until he paid me back but know he is saying that because he gave me give of equity he don't have to pay me back but the contract of sale stated that he was to have the property free of liens, trash and have it exterminated and free of termites and he did none of that. I did it all. What could I do? I only agreed to buy the house for the amount he owed on his mortgage. I hope to hear from someone soon.
Hello
I don't mean to butt in but, family or not, if you have the option to sell the house, sell it. Family is blood, but busines is business. Just on option to think about.
definately try to get the lien assigned to you. This gives you the option to do whatever you want, INCLUDING putting a lien on any other property your uncle owes.
If it is too late to have it assigned, make sure the landlord did not re-rent the apartment as it most liklely illegal to collect rent from 2 parties for the same apartment. Maybe you can get some of your money back if the apartment was indeed rerented.