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Old 05-17-2006, 12:40 PM
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Join Date: May 2006
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Unhappy

Pay off demand

California.

I am currently refinancing, and their is a lien on my property that is due and payable at the time of transfer of title, however the lien holder is requiring that I pay off that note even though no transfer of title is taking place. Can they do that?
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Old 05-17-2006, 01:30 PM
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Join Date: Feb 2002
Posts: 517
If I understand the situation correctly...They can refuse to subordinate to your new first mortgage. This would effectively require payoff as the new lender will not close the loan without a subordination or payoff as they will want to be in first position.
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