Loan will not close due to condo fees from former owner

[ashina74]

What is the name of your state (only U.S. law)? FL

I purchased a condo from Fannie Mae more than a year ago. I recently applied to a HELOC and was surprised that the loan processor notified me that on title there is a judgment for Condo dues from previous owner. The bank is now requesting me to pay it off in order to close the loan.

I have a buyer's title policy but very confuse what to do.

Please help.

Your help is greatly appreciated!

 

[STEPHAN]

Contact the title insurance.

It might take a while until it is handled.

If you want to close fast, you might have to pay and claim it back.

I also had a situation, where the title company gave me (new) closing company a guarantee to handle it, that was enough for my bank.