REALTORS BEING FED BAD INFO ON TITLE

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EDITOR’S COMMENT: Realtors are in a bind. If they don’t make sales they don’t have income. If they do make sales, there is good chance someone is going to get screwed — possibly on both sides of the transaction. These increasing worries have sent realtors scurrying to check their insurance policies and checking with their lawyers to see what they should do and what they can do.

The corruption of the title system by Wall Street has resulted in multiple clouds on title on each property that is subject to a claim of securitization. When the litigation over title starts to explode, realtors are going to be defending damage claims from buyers and perhaps even sellers who find that they are still subject to liability even though they thought their mortgage was “paid off.” Buyers will be lodging claims based upon the warranty deed, title insurance and perhaps even fraud, when they discover they can’t refinance or sell their property.

So the solution by Wall Street is to disseminate information through “official” channels that the realtor can rely upon or say they relied upon when they pushed through each transaction on which they earned a commission. Special incentives are being paid to realtors by the banks much like the “incentives” that were paid to appraisers during the fictitious run-up on prices.

Clear title is a long-term proposition to solve. The answer is not some abstract confirmation of title from an article where nobody is accountable for it being wrong. And realtors should be nervous about this. The notion that the Banks cleared title before giving the listing to the realtor is a living lie.

Q: Do I Get A Clear Title When I Buy A Foreclosure?

A: Yes, once they put the property on the market, the bank has already cleared title. The bank has made sure that they paid all the liens, judgments and all that on the property and the previous loans. So you don’t need to worry about any of those problems.

Tags: bankruptcy, borrower, countrywide, disclosure, foreclosure, foreclosure defense, foreclosure offense, foreclosures, fraud, LOAN MODIFICATION, modification, quiet title, realtors, rescission, RESPA, securitization, TILA audit, trustee, WEISBAND
Posted in bubble, Corruption, Eviction, securities fraud |