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Refinance Question

Started by emmitt
about 14 years ago
Posts: 51
Member since: May 2007
Discussion about
I received a letter from the bank with a list of things that I need to close a refinance (which is a Chase to Chase refinance). The letter states that original copies of the Stock Certificate and the Proprietary Lease must be presented. I have copies of both from when I bought the apartment and it is my recollection that those documents were retained by the bank. Is that correct or do I need to look more carefully through my papers at home?
Response by ab_11218
about 14 years ago
Posts: 2017
Member since: May 2009

the bank holds those. they gave you a generic list. just remind them that they have them and need to dig them out.

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Response by kylewest
about 14 years ago
Posts: 4455
Member since: Aug 2007

You do not have the stock certificate if you have a mortgage. The bank has it I would think. Why not check with you banker who is coordinating this. Or your attorney who closed on the apartment with you.

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Response by lad
about 14 years ago
Posts: 707
Member since: Apr 2009

The bank definitely kept it. Whether they have it is another story. During the last several refinances in our building, the bank claimed to have lost the stock certificate and we've had to issue replacements. It seems to be a bigger problem when the holder of the loan is not the original bank, so hopefully you'll be OK given that it's all the same bank. Still, it's good for you to get resolution on this now.

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