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Updated almost 3 years ago on . Most recent reply
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3rd Position Deed Holder Priv Bene refusing to provide payoff
I am in California and have a property in escrow. I am the holder of a 2nd Deed against it. There is a 3rd Deed position who is refusing to provide a payoff-demand to escrow. The deal is funded and escrow will not move forward without his pay-off demand. I'm looking for alternative solutions. I've tried to secure a Lost Deed Bond around him and escrow will not accept the Bond since he is not 'Lost'. He is refusing to issue his payoff.
I'm considering threatening to foreclose on my 2nd and wipe his position away.
Any other alternatives to consider?
Many thanks - God bless.