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<DIV>That is what I thought. I just talked to the new lender, and they did
say they are trying to get an exception “from corporate”, that they have heard
that other lenders in Washington have done this “but we don’t”. So maybe
they will make an exception. It is a lender out of Oregon.</DIV>
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<DIV style="font-color: black"><B>From:</B> <A title=markthiggins@gmail.com
href="mailto:markthiggins@gmail.com">Mark Higgins</A> </DIV>
<DIV><B>Sent:</B> Friday, January 09, 2015 11:28 AM</DIV>
<DIV><B>To:</B> <A title=wsbarp@lists.wsbarppt.com
href="mailto:wsbarp@lists.wsbarppt.com">WSBA Real Property Listserv</A> </DIV>
<DIV><B>Subject:</B> Re: [WSBARP] lenders at a logerheads on release of
security</DIV></DIV></DIV>
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<DIV class=gmail_default style="FONT-SIZE: large">Isn't this exactly what
escrows are for? Not releasing security without getting paid, not funding
until prior lien is eliminated, and , presumably, elimination of a title by
turning it, in are all matters handled by escrows all the time, aren't
they?</DIV></DIV>
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<DIV> </DIV>
<DIV class=gmail_quote>On Fri, Jan 9, 2015 at 10:35 AM, Josh Grant <SPAN
dir=ltr><<A href="mailto:jgrant@accima.com"
target=_blank>jgrant@accima.com</A>></SPAN> wrote:<BR>
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<DIV>Interesting closing we are attempting to get done.</DIV>
<DIV> </DIV>
<DIV>Sale is of a mobile home and land. Nice mobile. Current
lender understandably says “We won’t release the title until we get our
money”.</DIV>
<DIV> </DIV>
<DIV>New lender says “Oh, I see the title elimination never took place so we
won’t fund the sale until the title is eliminated”.</DIV>
<DIV> </DIV>
<DIV>DOL representative says, “you can’t eliminate the title without turning
in the title”</DIV>
<DIV> </DIV>
<DIV>I see each lender’s point.</DIV>
<DIV> </DIV>
<DIV>The only suggestion I have thought of is that the seller gets a $50,000
bridge loan to clear off the title. But I think for several reasons,
that may not be as a practical matter doable.</DIV>
<DIV> </DIV>
<DIV>Any other suggestions.</DIV>
<DIV> </DIV>
<DIV style='FONT-SIZE: 12pt; FONT-FAMILY: "Calibri"; COLOR: rgb(0,0,0)'>Joshua
F. Grant, PS<BR>Attorney at Law<BR>P. O. Box 619<BR>Wilbur, WA 99185<BR>tel
509 647 5578<BR>fax <A href="tel:509%20647%202734" target=_blank
value="+15096472734">509 647
2734</A><BR></DIV></DIV></DIV></DIV><BR>_______________________________________________<BR>WSBARP
mailing list<BR><A
href="mailto:WSBARP@lists.wsbarppt.com">WSBARP@lists.wsbarppt.com</A><BR><A
href="http://mailman.fsr.com/mailman/listinfo/wsbarp"
target=_blank>http://mailman.fsr.com/mailman/listinfo/wsbarp</A><BR></BLOCKQUOTE></DIV><BR><BR
clear=all><BR>-- <BR>
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<DIV dir=ltr>
<DIV>
<DIV>Mark T. Higgins<BR>Mark T. Higgins, P.C.</DIV>
<DIV>P.O. Box 57<BR>Darrington, WA
98241<BR>206-491-2420</DIV></DIV></DIV></DIV></DIV>
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