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Old 10-06-2016, 09:23 AM
  #13  
triplenet
Senior MemberCaptains Club Member
 
Join Date: Oct 2007
Location: Davie / Islamorada
Posts: 12,265
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Originally Posted by Lobstercatcher229 View Post
I appreciate the vast knowledge of THT folks.

I loaned money for someone to buy a house. That house closed this week. After payment of the loan and other expenses there was some profit. That profit has been given to the homeowner. As the lender my payoff hasn't happened yet.

As the lender we are getting different excuses, reasons, why the money hasn't been wired. Are there some protections if after the latest "reason", closing today for the Hurricane on the Florida East Coast my loan payoff money disappears?

The homeowner sold the house through a realtor, which I have read has some protections.
How did they close on a sale without paying off your first position ? You would have needed to sign a release .....

Something smells IMHO
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