Here is a quick summary of my issue. Seller of property in Jackson, NJ has turned property over to relocation company named Cartus Financial. We signed a contract to buy from Cartus and are headed for closing today. My mortgage company, GMAC is refusing to fund the loan because the Title search came back with the owner of the home being Mr. X (not Cartus( while Cartus is on the HUD-1 and the contract. GMAC is saying that reagrdless of whether there is a contract between MR. X and Cartus and regardless of whether there is a Power of Attorney, Cartus cannot legally sell me the house.
We are supposed to close at 2 PM today and no one will blink on this. Is GMAC correct?
We are supposed to close at 2 PM today and no one will blink on this. Is GMAC correct?