April 18th, 2017 10:58 AM by Andrew Liu, President NMLS#249736
A few months
ago, Mrs. Smith and her new husband came to my office to refinance their loan. (Mrs. Smith was happily married for the second
time.) In speaking with the Smiths, it
was brought to my attention, that the interest rate they had on their current
mortgage was already quite low, for me to get it any lower (in this
rate-raising market) was not going to be easy.
In fact, it was going to be quite a challenge! Nevertheless, I agreed to try my best to
look for a lower rate for the Smiths.
I started my
search right away, however, during the time my office was processing the loan,
I realized that somebody had put a lien against the Smiths’ property. I immediately contacted Mrs. Smith and she
recognized the name to be that of her ex-husband! He had put a lien on the house- yet she was
not even on the title! Mrs. Smith did
not know what to do. I assured her that I would work with the title company to
get this resolved.
short, after a month of paperwork, I successfully helped her get the lien
removed from the deed. The title of her
house was again clear!
Back to the
original purpose of her visit, which was to lower her interest rate on her
current home loan, which I did not see that as a possibility at this time. You see, the interest rate had continued to
rise during the time it took to clear the title. I proposed that we check into this matter
again in the future.
never made a penny out of this entire process, it was truly a success story. I was happy to help Mrs. Smith resolve an
issue that was negatively impacting her and her husband in the loan process. (Or even worse, if her ex-husband had passed
away, or could not be contacted, the lien on the title would create a delay on
anything Mrs. Smith would want to do with the house and there would be an even
bigger hurdle to overcome in getting the title cleared! It is much better, for the Smiths, that I was
able to take care of the issue at this time.)