Unrecorded FC deed & Sr. Mtg...on my house
Hi everyone, my first post here.
I'm buying my first home and it's a foreclosure. Been empty for a year and only on the market for 5 weeks when I put a offer on it. We went under verbal contract Oct. 18, then under bonafide contract.
There is the issue of an unrecorded forclosure deed, and a 'senior mortgage' on the house of $23,000. Seems the morgage has been paid but 'not released'. I was to close Nov 23rd....but that came and went due to these two issues.
The sale is through Wells Fargo and I was offered free title work if I went with their company, via ServiceLink. I'm in Maine and ServiceLink is somewhere else, out of state.
The word I'm getting from ServiceLink reps is that they tried calling the number on the previous policy which is for Wachovia, but are getting no where with that (Wachovia bought by Wells Fargo = dead end, seemingly), and then there is a company called GreenLink involved (prior lender) and is not reachable (busy signal) by phone. This was the ServiceLink reps response Nov 29 and Dec 16.
I did my own Google search tonight and found that GreenLink and Wachovia are connected, and that in 2000 GreenLink did a merger type thing with LendingTree. http://www.lendingtree.com/about-us/press-room/news-releases/2004/greenlink-joint-venture/
Should my reps be calling LendingTree instead?
I have about $1,800 invested in the property via good faith money, appraisal and HO insurance, but I find I have much more invested emotionally in getting this cute little 1961 ranch house.
How hopeless is this situation? How long could this drag out? I'm 96% packed and living among a mountain of boxes!
How does the unrecorded foreclosure deed relate to the un-released Sr. Mortgage? Do they relate to each other at all? I've asked my reps these questions but am getting no answers. Just the stock reply of who he's tried to reach and that there is no ETA at this time. :cry:
Any insights to this situation for me?
Thank you for any replies...
hannah