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Old School Stip Chasing for Cancelled Checks
I write some blog posts to share my experiences with other professionals. I write some for the benefit of consumers. It's rare that I write a consumer centric post that also benefits professionals such as this one. I want to share an experience that I had recently.
I am working with a woman who purchased a home on a land contract. There were some issues with the file and we have been working with her here at Plattsburgh Mortgage Company for over a year to help her fix up her credit.
So when it finally came time to get her out of the land contract we weren't sure how to do it. When we initially started working with her we had been targeting USDA. However, since she moved into the home she built an addition with a seperate entrance, a seperate electric meter, and her utilities are on a seperate bill.
That turned the home into a duplex thus making it ineligible for USDA Rural financing. So we decided to do it as a streamline FHA refinance which we can do but then we found out that the land contract had never been recorded. This presents a problem obviously because in ... more
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