How can I remove a $108k caveat from my PPOR quickly?

3

3ttstuff5

New Member
I recently had a lender place a $108k caveat on my PPOR.
I have about $1 million in equity – what would be the easiest way to get it removed?

I’m assuming refinancing and paying them out in full would work?
 
Yes, this is normal practice if you often fall behind on payments or if you chose a secured loan.

And you are correct, you can refinance or take a second mortgage to pay it off.

Let me know if you need help. This is one of my main areas of work (I am a commercial and consumer broker).
 
Sure, refinancing and paying off the lender is the easiest way to remove a caveat . But the real question is: why did they put it there in the first place?

Knowing that won’t change the fact you’ll need to refinance to pay them out and get it removed , but it does give you clarity on whether it’s a standard caveat, a default caveat,, or something else. That way, you won’t get any nasty surprises when you refinance!
 
Back
Top