Legal Question in Real Estate Law in New York

Re: Why a Bankruptcy and Lien Search?

In today's mortgage market, what matters is the FNMA/FHLMC Guide to the secondary market. That's where the requirements for the documentation are established, and the lender's request for information may have nothing at all to do with the underwriting decision, and everything to do the mechanics of hawking the paper to the securitization market.

At the same time, I note references to "mortgage company" and "bank" in your post. Are they different? And if the mortgage company is not the direct lender, one has to ask what it means when you say that the mortgage company approved the loan? The truth is that a determined mortgage lender can always find an excuse for busting the deal. Whether they are right or wrong would control the outcome of the lawsuit against the lender and not whether you will get the house.

Follow your attorney's advice. Cooperate with your lender. Good luck. And read a few Citibank billboards; the wisdom on them is actually astonishing :-)

This post is not legal advice and does not create an attorney-client relationship. It is a comment on the legal question posed by the poster and should not be relied upon unless and until an attorney-client relationship is entered into. Doing so would require signing an engagement letter and depositing a retainer to secure payment of legal fees.