Posted on 04/04/2011 6:45:19 AM PDT by Chunga85
Go to the county clerk's office and find out for yourself! DO NOT trust your lawyer or the title insurance company!
Oh they’ll find it and transfer it, they’re covered by title insurance (you’re NOT) ,, everything will be A-Ok as far as you’re concerned until the prior owner that was foreclosed upon comes up with $2,000 for a lawyer and gets the foreclosure nullified because of irregularities (forged docs) or some other reason.. I wouldn’t touch a foreclosure until the FedGov does something to protect prospective buyers. I have experience buying property in a country that was occupied by the Japanese in WW2 ,, titles are a mess , ownership is often unable to be determined ,, you take your chances and pay based not only on the land but the quality of the deed/title available ,,, YOU AREN”T GETTING A BIG ENOUGH DISCOUNT ON YOUR FORECLOSURE BECAUSE OF THE UNCERTAINTY..
They are selling a foreclosed house to you that they don’t have clear title to. Where’s the note with their name on it?
Notice to others when Frannie or Freddie sends you a letter notifying you that they hold your loan/mortgage and to continue making payments to the servicer (who gave you the loan in the first place but turned around and sold it to Wall Street) that Fran or Fred doesn’t bother to file a lien against your property at the local Country Recorder. That’s because they have no idea where the note is but pretend they have it. If they did have it, they would file a lien.
Some success in courtroom as the fraud begins seeing the light of day...http://www.nakedcapitalism.com/2011/04/judges-in-florida-start-inflicting-pain-on-foreclosure-mills-and-trusts.html
You would do well to spend a few bucks on a good real-estate attorney to check over the paperwork and in particular make sure there are no unreasonable exclusions in the title-insurance policy.
Title insurance companies have recently started inserting exclusions against covering title defects arising from the irregularities in recording that have become common in the last few years.
Debt free for me too!
“Debt free for me too”!
**********
That’s the only way to fly today, congrads!
Wow. That means that I could stop making my payments and “maybe” keep the property as no mortgager could claim a right to it???????
Wooohoooo!
Naw. Ain’t going there. #1, it’s not right. #2. It’s high risk. #3. It’s something a liberal would do.......
I guess the hard part for me to understand is how our lender could be “lost” in a short 11 years with only two parties who are major players - Wachovia & Chase...but then, with all the wheelin’/dealin’ that was being done with mortgages in those years, I can see it being possible. \
Thanks for the info....
Or you can exercise your consumer rights to pay more than a premium prices on a defective product and forfeit your right to recover 100’s of thousands in damages.
Some people are just like that.
No one is telling you to stop making payments. What they are telling you is to check to see if you still have a contract.
Your first sentence completely lost me.
I have a contract on file. It is with Chase Home Finance, LLC. Are you saying that contract is no good perhaps?
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