Updated over 11 years ago on . Most recent reply
Title company won't record deed
Several files closed with the same title company and they apparently have an issue with the mortgage on the property not being to the county's standards. The county kicked back the mortgage and deed and haven't recorded it.
The Title company who issued title insurance isn't allowing me to pay off the loan internally so we can just record the deed and move on and are basically holding it hostage for the lender to resolve the issue and write some type of new mortgage. Meanwhile, i have buyers who want to close and have extended for a few weeks waiting for me to work out this problem.
Meanwhile my lender is dragging his heels along with what appears to be fully confused on what to do.
From what I gathered from the title company (first american) they collected lender's title insurance fees on the HUD and feel they have some sort of liability if they get a release for the mortgages that never were recorded. Obviously they seem to be ignoring the HUGE liability of an unrecorded deed.
I'm thinking about getting a lawyer at this point since interest/HOA fees/taxes continues to accrue and my buyers may start to walk on the various properties.
Thoughts? Options?