Q: Can I sue a bank for not releasing the lien on my house?House was paid on 12/31/19.Resulted to escrow not close on 3/20.
Up to this time. I have called multiple times and we’re give different and wrong information. Do I have a case or not?
A: Your solution is with the escrow holder who closed the loan. It is probably a title insurance company. Before closing the loan, the escrow holder should have received a written release deed from the bank holding the mortgage. Make a written demand on the title company to either get the release deed or indemnify you against the lien. I am confident you will get this resolved without having the file a lawsuit.
Zaher Fallahi agrees with this answer
A: Sorry about the trouble. I would consult a real estate attorney. I hope this helps and stay safe. Zaher Fallahi, Esq, CPA (CA &D.C.).
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A: You have not provided any details regarding what damages you sustained - but To answer your questions, a lawsuit for damages may be warranted to, at a minimum, force the reconveyance of the Deed of Trust.
California Civil Code 2941, in relevant part:
(b)(1) Within 30 calendar days after the obligation secured by any deed of trust has been satisfied, the beneficiary or the assignee of the beneficiary shall execute and deliver to the trustee the original note, deed of trust, request for a full reconveyance, and other documents as may be necessary to reconvey, or cause to be reconveyed, the deed of trust.
(A) The trustee shall execute the full reconveyance and shall record or cause it to be recorded in the office of the county recorder in which the deed of trust is recorded within 21 calendar days after receipt by the trustee of the original note, deed of trust, request for a full reconveyance, the fee that may be charged pursuant to subdivision (e), recorder's fees, and other documents as may be necessary to reconvey, or cause to be reconveyed, the deed of trust.
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