Asked by Lola, Pearland, TX • Tue Jun 12, 2012
We are in the middle of trying to close a short-sale from Chase. We were literally getting ready to sign the papers and our title company found out there was a 2nd lien on the property for an additional $25k from Chase (the 1st lien holder also). Chase had approved the final HUD and did NOT disclose the 2nd lien. Once our title company informed Chase, they said they had no knowledge and are still trying to "find" the loan. It is clearly Chase's loan. What legal ground do we as the buyers have? Is that fraud from Chase? If it's their loan, they had to have known about it, right? If we would have signed we would have unknowingly had an extra $25k on the house. We have terminated our current and lease and will be without a place to live if this deal doesn't go through in the next month. Help
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