buzzbox

OK I’m still thinking about this issue.

I’ve concluded that a beneficial interest held in a Washington State Land Trust is considered real property, and not personal property, at least that seems to have been the drift of the courts. Now the question is, how can this situation be minimized?

For maximum privacy my current thinking is that an…[Read more]

It was some time ago, several months at least, that Bill G. had two or three cases he was pursuing using this basic idea, that it to employ the Federal Bankrupcy Court to convert the lien to unsecured. Haven’t heard anything since.

Bye the way, who is Rob Sedler? Maybe he should be contacted?

Hey Wiz,

Have you triggered a quiet title and claim for damages?

Seems to me you have enough evidence to show that there was no holder in due course that can be identified.

Therefore, the foreclosure was a sham and fraudulent by those involved.

Hopefully you’ve been able to locate a willing litigator?

It has been my understanding, that under common law, for a Warranty Deed to be valid and enforceable it must fulfill a number of requirements. Here, the point I’m making, and hoping to discuss to gain a more solid clarity through dialog with other board members, is that one of those requirements is, that the deed must be “delivered” to and…[Read more]

OK Dave, I follow:

The NEO allows the homeowner a way out should they decide they want to go in another direction.

If they are doing the quiet title funding themselves, that likely makes sense, but doesn’t it leave you with nothing for your time and effort? I’d be willing to do that, the first time perhaps, to gain experience, but not after. …[Read more]

Fundamentally, when it is known that there is an absence of assignments and recordings, which causes you initiate suit against a lender for quiet title, you are, in fact, claiming that the lender has been paid in full on the promissory note and that the lender has lost any power to enforce the mortgage. You are demanding that the lender prove it…[Read more]

Dave, I had thought that placing the property into a EHT would have occurred early on, to both gain control and to manage the Quiet Title process via a special power of attorney/direction as a co-beneficiary.

Thus, I’m wondering why it was deferred until after the Quiet Title success? Certainly, there seems to be motivation to wait and save the…[Read more]

Amy, you are MAGICAL.

I’m so pleased you’ve recovered so well from the foreclosure hassle.

Keep posting, you motivate us all.

Some say we’ll have a rocky 2013 but somehow bounce along through the year as the Federal Reserve will hold interest rates somewhere close to where they are now. This will maintain the housing market with home buyers taking advantage of the rates and existing homeowners refinancing there loans.

Fiscal Cliff or no fiscal cliff, the government will…[Read more]

I’m struggling to understand why it might be viable to try and arrange an equity sharing arrangement with a pretender lender. To do so successfully, it seems to me, requires the original loan would have to be held by a lender directly and not be part of a securitization loan pooling. Otherwise you’ll find yourself dealing with a fraudulent…[Read more]

Cork, looks like Dave S. has made it clear regarding title insurance issuance subsequent to a successful Quiet Title. I agree fully. I have not checked into what a title company here in Washington might think. Your comment reminds me to do so. I’ll post the answer(s) when I get them.

Dave’s advice is to sell as quickly as possible –…[Read more]

Quiet Title, if successful clears the security instrument from title but it does not cancel the note. You have gained clear title but still owe on the promissory note. That potentially is a problem and could become an issue you may have to fight. The title company doesn’t care, all it wants is a clear title on the real estate and the court…[Read more]

Trying to keep this thread alive and gain some more input.

First, you must believe a mortgage loan was never made and are capable of documenting and proving it, second, that you understand that the UCC should prevail to determine who is, or is not, the owner and holder of the note and deed of trust, and thirdly, fully understand that if the note…[Read more]

Starting from scratch, we need to put together an approach that works – at least most of the time. Clearly the courts are not comfortable with giving someone a free and clear title, when the judges are making payments on their own mortgages, or have struggled for years to pay one off. That’s likely the bottom line in many cases. It has to be…[Read more]

I now believe that initiating a Quiet Title action can and should be filed once the securitization process has been revealed, and the details known, rather than wait until a later time, as I’ve noted above. There is no valid reason to wait and eventually it will have to be filed as there is no entity in a position to properly issue and record…[Read more]

Thanks for the kind words Gary.

Quiet Title may work – it has for Dave S. with his Hopes program.

As we all know, Arizona walks to a different beat than California.

Yours would be a recovery after the fact – perhaps a more difficult challenge.

I’m sure the Wiz is fighting this, at least I hope he is.

Another thought – perhaps this should be attacked from another direction and that is to mount a lawsuit arguing that the property was “free and clear” from the outset and that no obligation ever existed to pay the Promissory Note and that the Deed of Trust is simply clutter on the title,…[Read more]

More stuff =

ARIZONA
If the homeowner refuses to give up possession as a result of an eviction notice, the claimant lender will be forced to file a Forcible Entry and Detainer Action. There is a short notice period before a court hearing. The sole issue will be whether the occupant has the right of possession.
You will have to go into court and…[Read more]

Additional thoughts:

Did the trustee announce the foreclosing claimant’s amount, usually the note balance plus late payments and misc fees and charges, at the auction? If not there may be a defense.

Has the claimant formalized title by terminating the equitable right of redemption and taken both legal and equitable title to the property and…[Read more]