If you are requesting a release of lien
- a power of attorney for the legal representative (if applicable)
- a letter requesting the release that includes:
- the circ*mstances of the sale
- the amount you will offer to New York State in exchange for the release
- a description of all additional real property you own, and the amount of equity in such property
- a proposed closing date
- a pre-closing statement showing the total selling price and distribution of all money (to whom and for what purpose)
- the payoff letters from the lienholder (on their letterhead)for all senior lienholders being paid at closing
- the dischargeletters for all senior lienholderswho are not being paid at closing
- a complete title search covering the last 10 years
- a copy of the deed thatincludes adescription of the property
- a current appraisal with comparisons
- a copy of the signed and dated contract for the sale of the property
If you are requesting a subordination of lien
- a power of attorney for the legal representative (if applicable)
- a letter requesting the subordinationthat includes:
- an explanation ofyour circ*mstances
- an explanation of how New York State will benefit from the transaction
- the amount of money you will offer New York State
- an explanation of how you will repay the balance
- a copy ofyour most current mortgage statement
- a copy of the new proposed loan agreement, including details identifying the new lender
- a statement showing how any proposed proceeds will be disbursed
- the payoff letters from all senior lienholders of secured debt
- the subordinationlettersfor any senior lienholders not being paid at closing
- a complete title search covering the last 10 years
- a copy of the deed
