Arizona  |  Real Estate Law

Legal Question

Asked on: 7/23/13, 9:22 am

I have two condos in Arizona they both have mortgages and I noticed my lender back here in Illinois also wrapped a property in Illinois loan with these I didn't approve this what can I do

1 Answer

Answered on: 7/23/13, 9:32 am by Donald Scher

I would have to see your loan documents in order to determine if you approved of the inclusion of the Illinois property, even if you did so unknowingly. Obviously, you can demand that the lender release the lien against the IL property, but you need to have a legally enforceable reason for them to do so. I am not surprised that a lender tries to get additional security for their loan, so you have to call them out.

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Donald T. Scher & Associates, P.C. 2200 E. Camelback Rd., #102 Phoenix, AZ 85255

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