Posted by Brent_IL on October 26, 2003 at 01:55:09:
The lender isn’t going to give up any money until the liens are paid, so this won’t affect the dollar amount of your buyer’s commitment. If the title company has called several times, they are waiting for you to take care of it. You need to get satisfaction letters from the old lenders and give them to the title company, so they can record the releases. They can fax the info directly to the title company if you ask them to.
Is it usually possible for a buyer to obtain written financing committment from his lender
if my title still has 3 liens on it?
His title company called me several times
asking why there are 3 liens on it.
I had my first mortgage and 2nd mortage before,
but after refinancing, for some reason the 2 old liens still show on title
even though both are fully paid off.