All Forum Posts by: Suzanne B.

@Jerry W.Forgive my confusion. We quitclaimed it to my LLC as trustee of our trust, and that may make it worse? Should we record another quitclaim back to both of us as tenants by the entireties? We reside in Colorado. Thank you Jerry!

I was referring to the decision makers at the bank, coming to an amicable resolution... not hoping black and white would change for me. 

That is what is so disconcerting.  Because it puts everyone involved (the bank and my family, not just my family), I'm hoping and praying for some "work through" - which is why I'm reaching out to all you brainiacs.  I am literally praying for a miracle work through of some kind. Just to be clear, my faith is in the Lord, not BP ;-)  No matter what happens, we will be fine. It has never been about what we have or don't have... it's just that this was our retirement home and we "made it our own" but a house is only a house. Thank you for your response to all who have responded. I appreciate your input. 

That's precisely what I'm questionning here. It has not officially attached to the property.  Nothing has been filed against the property and the lien doesn't even know about it, yet the lender froze all my accounts and has notified me of being in default as of April 6. So, iin essence, they want to foreclose, take all my money and destroy my credit. 

Last I spoke with my attorney, he had a long, long conversation with the bank's attorneys.  All the attorneys on both sides acknowledge it's not good for the bank and it's not good for me. I keep asking why isn't it as simple as removing my husband from the title? They say it's too late, once he has been listed, if the lienholder discovers this, they could potentially foreclose as they are in first position.

In the interim, I filed a QC deed with an LLC as trustee of my trust. Transferring our interest to the trust should have prevented this, but at this point I'm hoping it helps in some way (removing our names/interest in the property) or perhaps causes a delay in any proceedings. Meanwhile, we are waiting for the decisionmakers at the bank to take heed to their attorneys' warnings - as it would be better for them to allow me to continue to make the automated payments from my accounts and reinstate the loans/accounts. My attorney will get back to me once they decide, and I guess we'll go from there... but I'm praying that they simply hold the title company accountable in the event anything happens in the future. (Amen?)

The lien is over $2 million and the mortgage is $1.6 and change.  Neither myself nor my husband has this in our back pocket.  Before even notifying us, the bank froze $350k before we had a chance to transfer funds to other accounts. Yes, I am listening to my attorney, but I am also continuing to look for answers. The lien has not "attached" to the mortgage.  It was filed before purchasing the home unbeknownst to either of us since it was purchased in my name alone. The title company did not do their due diligence, which is what I paid $1,900 at closing for them to do and now I'm at risk of losing everything, including my credit preventing me from buying another home anytime soon (and this was my retirement home!)

Because the lien is greater than the deed of trust, the lender is also in a bad situation. The lien could foreclose and they could foreclose, but if they foreclose, they could never sell the property.  I have the best attorney in the state and he says that recording a quitclaim deed transferring our interest will not help as long as my husband's name was "ever" on title... in essence, that it's too late. He has spoken with the bank's attorneys and they will be discussing the situation with the bank any day now and getting back to him. 

As previously stated, 2 title companies approved my husband being in the lien in the last year. How could they miss this and why aren't they responsible for not doing their due diligence?  Now the bank is claiming fraud on top of everything else because my husband signed the edoc sent to him to put him on the loan, and he was unaware that there was a lien filed in the county in 2019. Had the first title company discovered it, he would never have been on the title. Then the second title company did not discover it... it was the bank following up that discovered it. Now we are at their mercy in what their attorneys advise them to do.

My attorney stated that the bank could negotiate an extension of the statute of limitations from the title company who provided the lender's insurance policy in the event the lien ever foreclosed on the property.  However, for either the lien or the bank to foreclose, with the bank's inability to sell after foreclosure and the lien's inability to profit from the foreclosure, it would not be to anyone's benefit to call the loan due at this time.

It was late in the process as a last minute lender requirement.  I am the borrower and he is on social security so he was not on the original application.  

Prior to refinancing, the house the previous loan was solely in my name. When I first bought the house, I had an owner's title insurance policy at closing. At the time of refinancing, the bank asked who my title company was and I referred them back to the same title company. To my surprise, I just discovered they only provided a lender's policy and did not even offer me an ower's title insurance policy.  Here I thought they had my back, and I'm the one paying for it, yet I was not protected at closing.

This is the second title company to overlook my husband's lien.  I bought the house, fixed it up, got a second, and the second said 4% but then at the last second charged 10.99% so I consolidated the first and the second into one new first mortgage.  Both title insurance companies are at fault and only protected the lender.

I am not past due on my mortgage. My last payment was March 1st. I'm wondering if I tranfer it into a trust if that will protect me from both/either the judgement lien or my bank from foreclosing.

There is a quitclaim transferring from my name to both myself and my husband. There is a first DOT and a second DOT. The judgment lien has not discovered my husband's name on the property.

In short, I'm wondering if I quitclaim it back into just my name alone, then file a Warranty Deed to Trustee with a different person designated as trustee and the trust agreement stating that as soon as he/she signs the deed, that it transfers back to me (which is not recorded/public information) if this will protect me from losing my property to the bank or the judgment lien. 

Meanwhile, I was preparing to transfer funds to other accounts when they froze all my money in the savings/checking and available funds in the heloc, and I have very little in the rest of my accounts... so either way I need the bank to reinstate so I have access to my funds in order for the auto-pay to resume making payments toward my mortgage.

I also have a $1 million umbrella for personal insurance liability in addition to my $500k personal liability insurance in my homeowner's insurance, and I'm not sure whether the $619k owner's title insurance policy 7/20 is still active... or if any of these will help.

In summary, had the title company for the second on the house a year ago discovered this, it never would have been transferred/quitclaimed into my husband's name then or a few months ago... but without an owner's policy on either of these, I'm told I have no recourse to go after them for this.  

Everything is so convoluted at this point... but I have to do something, even if a trust is overturned later to avoid foreclosure on a mortgage that is current yet no one has agreed that it will protect me per the garn-st german federal depository institution act of 1982 that states if you transfer to a trust, the bank cannot call it due.

My lender just discovered a lien filed in 2019 against my husband in the county where I reside. When I applied to consolidate my first and second mortgages with a new mortgage through a new lender, I applied alone but they wanted my husband on the loan/title of the property. The title company obviously didn't do their due diligence if they had me sign a quitclaim deed over to myself and my husband to add him to the title in December of 2022.

Now that the lender discovered a judgment/lien against my husband and any personal property in the county, which he was unaware of, they are saying he lied on the application that they completed and sent over via docusign to add him to the loan. All he did was sign the document per their request.

The lender's attorneys froze all my accounts (savings/checking/heloc - a total of approximately $350k in all) and sent me a letter stating I am in defauilt as of April 6, 2023.

I hired an attorney that says I can't file another quitclaim deed with myself and my husband putting the property back into my name alone, as it was before, that the lien would attach to the property no matter what. Yes, it was filed in the county, but nothing was filed against the property. In the property records, there is only a deed of trust for the first and second mortgage.

I'm wondering if we can both sign a quitclaim deed over to a land trust directly, or if we can sign one back to me and then I can sign a land trust assigning an LLC established in Wyoming for privacy purposes as the trustee (and perhaps another LLC as the beneficiary of the trust). I own other LLCs in Colorado but they have my name on them. I can establish another LLC in Wyoming if need be. My attorney says no, but why can't it be that simple, to take him off of the title with a simple quitclaim deed that I can file in minutes rather than destroy my credit and take all my money?

Any thoughts or suggestions would be appreciated ;-)

My lender just discovered a lien filed in 2019 against my husband in the county where I reside. When I applied to consolidate my first and second mortgages with a new mortgage through a new lender, I applied alone but they wanted my husband on the loan/title of the property. The title company obviously didn't do their due diligence if they had me sign a quitclaim deed over to myself and my husband to add him to the title in December of 2022.

Now that the lender discovered a judgment/lien against my husband and any personal property in the county, which he was unaware of, they are saying he lied on the application that they completed and sent over via docusign to add him to the loan. All he did was sign the document per their request.

The lender's attorneys froze all my accounts (savings/checking/heloc - a total of approximately $350k in all) and sent me a letter stating I am in defauilt as of April 6, 2023.

I hired an attorney that says I can't file another quitclaim deed with myself and my husband putting the property back into my name alone, as it was before, that the lien would attach to the property no matter what. Yes, it was filed in the county, but nothing was filed against the property. In the property records, there is only a deed of trust for the first and second mortgage.

I'm wondering if we can both sign a quitclaim deed over to a land trust directly, or if we can sign one back to me and then I can sign a land trust assigning an LLC established in Wyoming for privacy purposes as the trustee (and perhaps another LLC as the beneficiary of the trust). I own other LLCs in Colorado but they have my name on them. I can establish another LLC in Wyoming if need be. My attorney says no, but why can't it be that simple, to take him off of the title with a simple quitclaim deed that I can file in minutes rather than destroy my credit and take all my money?

Any thoughts or suggestions would be appreciated ;-)

My lender just discovered a lien filed in 2019 against my husband in the county where I reside.  When I applied to consolidate my first and second mortgages with a new mortgage through a new lender, I applied alone but they wanted my husband on the loan/title of the property.  The title company obviously didn't do their due diligence if they had me sign a quitclaim deed over to myself and my husband to add him to the title in December of 2022. 

Now that the lender discovered a judgment/lien against my husband and any personal property in the county, which he was unaware of, they are saying he lied on the application that they completed and sent over via docusign to add him to the loan.  All he did was sign the document per their request. 

The lender's attorneys froze all my accounts (savings/checking/heloc - a total of approximately $350k in all) and sent me a letter stating I am in defauilt as of April 6, 2023. 

I hired an attorney that says I can't file another quitclaim deed with myself and my husband putting the property back into my name alone, as it was before, that the lien would attach to the property no matter what.  Yes, it was filed in the county, but nothing was filed against the property. In the property records, there is only a deed of trust for the first and second mortgage.

I'm wondering if we can both sign a quitclaim deed over to a land trust directly, or if we can sign one back to me and then I can sign a land trust assigning an LLC established in Wyoming for privacy purposes as the trustee (and perhaps another LLC as the beneficiary of the trust). I own other LLCs in Colorado but they have my name on them. I can establish another LLC in Wyoming if need be. My attorney says no, but why can't it be that simple, to take him off of the title with a simple quitclaim deed that I can file in minutes rather than destroy my credit and take all my money?

Any thoughts or suggestions would be appreciated ;-)