Has anyone here been able to get a partial claim extinguished?
My story:
Bought my house in 2011 . In 2013 we started to face financial problems and we took out a modification which ended up being a partial claim/modification combo. $103k was placed into a 2nd lien. (I didn’t realize this at the time. I was young and wanted to keep my home)
Fast forward today, the day before closing the title agent runs the title and finds 2nd loan. I am shocked. I thought I was making $100k on the sale and now I’m left with nothing. I have to pay $10k to close.
I should mention during this time I divorced. I kept the house and it was granted to me in divorce with only principal balance disclosed. Not the 2nd loan. It’s a no interest so I have not received statements as the maturity date is 2043 or when I sell. I am at a loss. No one can help. Does anyone have advice or similar situation where they were able to reduce the partial claim amount? I am supposed to now close and can’t back out of contract and I feel like everything I ever worked for is just gone.
My story:
Bought my house in 2011 . In 2013 we started to face financial problems and we took out a modification which ended up being a partial claim/modification combo. $103k was placed into a 2nd lien. (I didn’t realize this at the time. I was young and wanted to keep my home)
Fast forward today, the day before closing the title agent runs the title and finds 2nd loan. I am shocked. I thought I was making $100k on the sale and now I’m left with nothing. I have to pay $10k to close.
I should mention during this time I divorced. I kept the house and it was granted to me in divorce with only principal balance disclosed. Not the 2nd loan. It’s a no interest so I have not received statements as the maturity date is 2043 or when I sell. I am at a loss. No one can help. Does anyone have advice or similar situation where they were able to reduce the partial claim amount? I am supposed to now close and can’t back out of contract and I feel like everything I ever worked for is just gone.