WHILE YOU WERE BUYING OR LENDING …. THE TITLE SLIPPED AWAY FROM YOU

COMBO TITLE AND SECURITIZATION SEARCH AT LUMINAQ

WELL IT TURNS OUT SOME PEOPLE ARE LISTENING VERY CLOSELY — THE BUYERS OF REO AND FORECLOSURE PROPERTY AND THOSE WHO WANT TO LEND ON THE PURCHASE OF SUCH PROPERTY. THEIR QUESTION: WHAT CAN YOU DO TO FIX THE TITLE SO WE KNOW WE OWN IT AND WE KNOW WE ARE IN FIRST POSITION AND NOTHING CAN PUSH US ASIDE?

Investors, home-buyers, community banks and credit unions and well as “hard money” lenders and other sources of capital are starting to wonder whether the property they just bought from an REO portfolio was really owned by the seller and some lenders are wondering whether the prior “Securitized” obligations are actually satisfied or cleared from the title record. Property lawyers across the country are questioning the validity of the auctions, “credit bids”, notices of default, certificates of title and trustee deeds even in cases of private sales or refinancing of the property. Most have concluded that title is clouded or defective requiring additional documentation, and probably a judicial modification or declaration of rights to title and lien priorities.

These are sophisticated players and they understand full well that if the largest investment banking houses in the world can crash, so can a title company. Title policies are no substitute for actual ownership or first lien position. A title policy only provides compensation if the policy covers the insurable event, if the insurance company doesn’t claim rescission due to fraud, and if the insurance company has the money to pay the claim. We have investors that are buying as many as 300 properties per month and now wondering what they own. We have banks that are willing to provide financing on purchases of proeprty that was at one time claimed to be subject to a securitized loan, wondering if those liens were real and how to get rid of them because of the obvious breaks in title, robo-signing, forgeries and fabrications.

Enter www.livinglies.wordpress.com and www.LUMINAQ.com, our new store (the old store will continue to run for a while). Through our  COMBO report (obviously with special pricing for big volume customers) we give you the identity of the parties that could make an equitable or legal claim against the property and we’ll even refer you to one of our lawyers to file quiet title actions. It’s the same story as for the homeowners, only after the foreclosure sale has supposedly been completed at “auction.”

Posted in bubble, Corruption, Eviction, securities fraud |