mortgage now or after appeals?? - Posted by Susan

Posted by susan on June 11, 2006 at 07:56:51:

Thanks for the info…am going to try to talk to attorney handling case (who also handles closings etc)and see what can be done. Need to get it mortgaged asap (interset rates keep rising) BUT do not want to have the legal burden of continuing fighting this case switched to me. Dont think they have any thing filed except the motion to reconsider, amend, alter or vacate order on grounds that they would have to move, dismantle, or lose a block building they built on our land in 2002. Still waiting to hear an answer, denial, or hearing date from judge on that. This judge never has just let time lapse on a post judgement motion, and we are puzzled why he is taking so long on this motion. Thanks agian and I welcome any more insight that can be offered in this …

mortgage now or after appeals?? - Posted by Susan

Posted by Susan on June 03, 2006 at 19:13:18:

Approximately 1 1/2 years ago friends of ours purchased a house (forclosure deal) for us. Allowed us to move in and make payments to them until we could secure a mortgage. Shortly after moving in an adverse possession case against the property was filed by neighbor.(to make a very long story short) FINALLY made it to court and our friends won the case easily, the neighbors were clearly wrong in their claim. Now the neighbors have filed a motion for reconcideration, amend, alter, or vacate. Still waiting to hear something on it, no denial or court date yet. Neighbors are fighting this so fearcely because they built a block shop on our land 4yrs ago while house was vacant, and the ruling gives it to us. Now the question…our neighbors have threated to appeal, must I wait till the appeal is over before getting a mortgage?? Our friends are not pushing us to get one its just that interest rates are up and are going up and I want this done!!! Thanks… PS the amont of land in this dispute is 3/4 acre of our 1 1/2 acre lot…1/2 of our lot!

Re: mortgage now or after appeals?? - Posted by BTL

Posted by BTL on June 11, 2006 at 12:28:58:

Susan

Just curious, did these wonderful neighbors ever get a permit to build what they built. If I had an illegal structure on my property, I would promptly bulldoze it, can’t have that.

BTL

Re: mortgage now or after appeals?? - Posted by dutch

Posted by dutch on June 05, 2006 at 20:18:15:

There is a cloud on the title, I doubt seriously you could get title insurance, which means you probably can not get a conventional mortgage.

Dutch
OKHomesavers

Re: mortgage now or after appeals?? - Posted by Susan

Posted by Susan on June 09, 2006 at 20:20:40:

How would this be a cloud on the title? Doing a title search shows nothing about the court case, besides the judges ruling states the land is ours, {their motion is still pending though.} You mean I will have to wait the year or so that it takes for this to go though the appelate court before I can get a loan, IF they take it to the court of appeals? {hopefully they wont}

Re: mortgage now or after appeals?? - Posted by dutch

Posted by dutch on June 11, 2006 at 07:39:59:

if there is pending litigation (lis pendens) it will show up in a title search. If they file during escrow it will show up during the gap check. if they are just threatening, no, verbal threats do not get recorded.

once you own it, the could still proceed with the suit.

Good luck.

Dutch
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