As a semi-retired Ol' Fuss Commercial Realtor I wouldn't get too excited about buying ANY property that has or had a securtized mortgage. MERS is about to be eviscerated by even more courts.
The Arizona State Senate passed a Bill last week that will make those who are foreclosing, refinancing, or selling a property PROVE they have a LEGAL CHAIN OF TITLE. My view is there are over 62,000,000 slandered and clouded titles casued by MERS registration.
Strongly suggest you devour attorney Neil Garfield's site for information that will pancake you to the floor.
BOTTOM LINE: I wouldn't think about buying property unless the seller placed a QUIET TITLE order signed by a judge on the closing table. Anything less is financially suicidal.
Kristen - I did get the Aurora TS date moved. They were having a problem with their faxes when we were trying to upload. My advice is to just keep calling. On Friday the first guy, and the escalation supervisor, told us flat out NO. When we called on Saturday, they were much more helpful. By Monday, the notes on the file were extensive enough that they finally saw the package and the offer was solid so we got the postponement. NOW, I'm trying to get the non-deficiency language in since the Seller's Laywer won't let him sign even with SB 931 in place.
This reply was deleted.
Birthday:
May 21
First Name
Kristin
Last Name
Smith
State
OR
City
Albany
My Profile
I have been working short sales since nearly my first transaction. In 2010, over 50% of my deals were distressed properties. I've worked with Wells Fargo, Bank of America and others and gotten almost all successfully closed.
Comments
As a semi-retired Ol' Fuss Commercial Realtor I wouldn't get too excited about buying ANY property that has or had a securtized mortgage. MERS is about to be eviscerated by even more courts.
The Arizona State Senate passed a Bill last week that will make those who are foreclosing, refinancing, or selling a property PROVE they have a LEGAL CHAIN OF TITLE. My view is there are over 62,000,000 slandered and clouded titles casued by MERS registration.
Strongly suggest you devour attorney Neil Garfield's site for information that will pancake you to the floor.BOTTOM LINE: I wouldn't think about buying property unless the seller placed a QUIET TITLE order signed by a judge on the closing table. Anything less is financially suicidal.
Here is a download of a ZIP file containing an eBook masterwork on Quiet Title.
The above information may just save your financial assets from a total wipeout.
Best regards, Glenn