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Updated about 8 years ago,

User Stats

214
Posts
128
Votes
Rashard Alomari
  • Investor
  • Memphis, TN
128
Votes |
214
Posts

Deal stalled in Escrow in search of 2nd party release of lien

Rashard Alomari
  • Investor
  • Memphis, TN
Posted
Hello all! I currently have a deal in Escrow that has been delayed due to a previous loan on the property that wasn't properly released. The current owner obtained a loan from a husband and wife when he first bought the property. When the loan was paid off, only the wife signed the release. They title company is stating that they must find the husband to get his written release as well. My seller informed me that the husband has left the country over 7 years ago and it will be practically impossible to locate him. Is this deal long gone?! Is there possibly another avenue of completion that the title company can take to secure a clear release and ultimately a clear title? Thanks in advance!!!

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