Northeast Executive Abstract Agency, Inc.
                                   7510 Brous Avenue
                                   Philadelphia, PA  19152
                                   July 17, 1998

Mr. and Mrs. George Sicherman
912 Deal Road
Ocean, NJ  07712

re:  our file # PAR-ST-50073-98
     refinance closing
     912 Deal Road

Dear Mr. and Mrs. Sicherman:

     Enclosed please find our check #21623 in the amount of $77.18.
Your new loan with Irwin closed on June 16, 1998; the recission
period was up on June 22, 1998 and is the date your loan should
have funded.  Irwin's wire was not received timely so we could not
send your payoff check out.  As settlement agent, we insured Irwin
that your loan to Chase Manhattan would be paid in full.  Because
we had only collected interest on your Chase payoff through June
23, 1998, we were forced to take money from your proceeds.

     Though it is the responsibility of your new lendere to fund
your shortfall, we will seek reimbursement from Irwin for the days
that accrued due to their non-funding.

     I am sorry for any inconvenience this may have caused and
please feel free to call if you have any questions.

Sincerely,
(s) Catherine A. Maguire
Catherine A. Maguire