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Legally, have I paid off my house?

I am/was in the process of refinancing my home through the Harp2 program.  We signed our closing documents 3 weeks ago and thought we were done. Recently, we received a "deficiency" letter stating that they do not have a "Commitment Letter" from myself for the new loan.  I am to have the signed letter back to them (by 6/30) or I basically lose the 4.375% lock on my new loan.  Earlier this week, however, I received a Deed of Trust and the notification that my previous loan "has been paid in full and closed". 

Do I now even need a new loan? Legally, where do I stand?  How will they come back at me? What happens if I don't send the signed letter back to them? Would I just to have to start the loan process again?  How does my "paid and closed" loan figure into this? If nothing else, would my expectation of my first new payment of July 1st be delayed if I wait until the last moment to send it back?

What should I do?
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June 25 2012 - Tracy
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Answers (5)

I think all this can be answered with several phone calls or office visits. It may seem confusing right now, but check with the folks that helped you and you'll find the answers. Make sure if they don't know that they know your going to follow-up with them in a day or two.  You could also reach out to of visit the county recorders office to see if any liens were recorded.

I hope this helps,

Rocky
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June 26 2012

Wow.

Just, well, wow....

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June 26 2012
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June 25 2012
I can't speak for your specific situation but when someone buys a home they always end up signing a paper at closing that says 'hey if we screwed up, you agree to come back and sign some more papers or sign amended papers'
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June 25 2012
Profile picture for wetdawgs
No, you've not paid off your house.  There was a snafu in paperwork and they will be able to show a trail to confirm that you've not paid it off.

Call your loan officer for discussion of ramifications if you delay, there may be late fees.


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June 25 2012
 
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