Lender didn't receive closing statement on a sold house
Question Details: Sold house in June 2007, signed documents in title company. Then we had two loans, the HELOC had balance 0 before house was sold. Two week ago, got call from HELOC lender and said we owe over $4000 on the account and are overdue for several payments. They claimed they never received documents to close and they bought flood insurance on our behalf after they didn't't hear from us (this is where the balance come from). The title company went out business and the lender wants signed document at the time for evidence(I don;t have). Please advice what to do. Thanks.
Real Estate Law Answers
First thing you ned to do is to find out how you can get the closing documents. Escrow companies always send documents. Did you use a realtor? Realtor should have the documents. If not, what happened to the escrow company? find out. If they were acquired by another company, the record should exist. Ask from the buyer. Do what you need to do. If you can somehow still find, then make a decision, either settle with the lender for HELOC or risk being sued or account turning over to the collections. They should have been informed and it is your job to make sure. If you claim that amount was zero at the time property was sold, find your old statements and prove it to them. Or ask them to give you copies of the old statements. Find corroborating evidence, my friend.
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