Mortgage was paid, HELOC did not show up in title search. I no longer own the home.
2006-11-27 13:08:00 · 4 answers · asked by gtowngirl5483 2 in Business & Finance ➔ Renting & Real Estate
How did you manage to "forget" that you had a HELOC?
In your Affidavit of Title, you would have had to swear that there were no other outstanding mortgages or liens, etc that were not being paid off with the sale. You had a duty to inform them of any known items that did not show up in the title search.
Occasionally documents are filed in the wrong county, etc so they don't show up on the search. That in no way absolves you from the responsibility of paying.
Pay off that HELOC right now and close the account, and make sure the discharge is filed. It is your only hope of not getting sued for fraud.
2006-11-27 13:25:51 · answer #1 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
who was your representitive? a lawyer or a agent or yourself? the title company should have filed all documents. What is a heloc?
2006-11-27 13:10:47 · answer #2 · answered by zocko 5 · 0⤊ 2⤋
KeyLimePie has it right on the money. And you got that money - hope you didn't spend it yet.
2006-11-27 16:36:10 · answer #3 · answered by teran_realtor 7 · 0⤊ 0⤋
sue
2006-11-27 13:09:27 · answer #4 · answered by Anonymous · 0⤊ 1⤋