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Old 02-05-2013, 06:03 PM
 
4 posts, read 4,458 times
Reputation: 10

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I'm refinancing my primary residence and ran into a problem.

There are two liens on my s-corporation placed by the state 6 years ago for unpaid unemployment taxes of approximately $3000. The unemployment taxes weren't paid because I actually owed less than $500 but the state estimated a much higher amount and said that because I hadn't corrected the estimate within 30 days that I had to pay their estimated amount and not the actual taxes due.

The liens are placed against the assets of the corporation only and are not placed against the residence or against me personally. The title company is telling the bank (large national bank) that they will not provide title insurance unless I pay the liens. I have told the bank that the liens are not against the property itself that it should not not be an issue for the title company. There is no income from the corporation used to qualify for the loan and the corporation is not involved in the refinance at all. The title company is not willing to let this issue go.

I have refinanced two investments properties twice each in the past year and this hasn't been an issue.

Again - the liens are not against the property or myself as an individual but only against the assets of the s-corporation but the title company won't let it go. Any suggestions or thoughts?

Thanks.
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Old 02-06-2013, 04:49 PM
 
3,805 posts, read 8,880,537 times
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Contact the title company(ies) that handled the investment properties. Use them again for this transaction.
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Old 02-06-2013, 05:52 PM
 
4 posts, read 4,458 times
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Thanks for the reply.

I already asked the bank that and they won't let me use a different title company. I spent all day trying to deal with this today and nobody at the bank seems to understand the difference between me as an individual and my corporation.
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Old 02-07-2013, 12:57 AM
 
3,805 posts, read 8,880,537 times
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Then you are with not only the wrong title company, but the wrong bank as well. I'm not trying to be a jerk here, but doesn't that seem to make sense?
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