I represent an 80 year old couple who luckily were able to sell their near southside double last fall. Everything seemed to drag out longer than needed but when it came time to close it became surreal.
Ch*se Bank won't give us a payoff so we can close this deal. The title company has been given the run-a-round first having to get written permission from the sellers to ask for the payoff and now, TWICE being told the bank has no record of the request ever being made. THis in spite of the Title Company having fax confirmation that the request was received.
The sellers have been in contact with the lender themselves and are not having any luck either. Everything they are told is "ow, you'll get it in 48-72 hrs" This has been going on since January 23 with no resoution in sight.
I just emailed the sellers a link to the Attorney General's Office and suggested a call to their lawyer might be in order.
I am now hearing this isn't the first time Ch*se Bank has pulled this same thing, it's happend to other realtors before.
My theory......they don't want a 5% loan payed off early nor do they want to have the money on hand and end up loaning it out at 3.5%. Just my theory