Broken Chain of Title
Broken Chain of Title
Your mortgage servicer may not have the legal right to foreclose on you. Whenever you do choose to sell your home, there assuredly will be a cloud on your title, preventing you from selling. If your title or deed was not transferred correctly from investor to investor as your mortgage was sold and re-sold, they have broken the chain of title and their foreclosure action is illegal. Many homeowners are choosing this litigation as a strategy to save their homes, and force the reduction of principal and interest rate on their mortgage; and they’re succeeding with spectacular results depending on what state you’re in. This is at the heart of the Foreclosuregate and Robosigner scandal exposed in October of 2010.
It’s too early in the history of this strategy to predict what any given judge will decide as a remedy for a broken chain of title, or corrupt title, but it is clear that the better prepared the homeowner is, and the more aggressive their attorney, the more you will gain. If your lender can’t provide the title or deed to your property, you probably win big time. The likelihood of broken chain of title is extremely high if you bought your home since the year 2000. We have seen corrupt title cases as far back as 1994.
This is a spectacular strategy to force mortgage servicers to recognize Fair Market Value calculations, to lower the loan principal and interest rate on your mortgage to a Fair Market Value and competitive interest rate. It is not suitable to argue in court for the “Free house” that you undoubtedly deserve. A successful broken chain of title suit would result in a new mortgage, as opposed to a mortgage modification, which is a re-writing of the terms of your current mortgage. Basically, it holds the mortgage servicer and mortgage investor accountable for the incredible loss in value to your property in the last few years as well as sloppy title compliance in their rush to get you into a house and sell your loan to investors. This is an especially suitable strategy for a homeowner who doesn’t qualify, or isn’t satisfied with, a mortgage modification.
You need the right attitude, and probably some funds available to you for a broken chain of title suit. You need a real “fire in your belly.” You can’t expect much of a warm reception from an accomplished attorney without some retainer funds to pay for corrupt title prosecution. Perry Mason was not cheap – or idle.
The REST-PSR is essential to force an equitable and expedient short sale. Unlike the mortgage modification or short sale strategy, consultation with an aggressive bankruptcy attorney familiar with the tenor of the District Court in your state is absolutely mandatory. Not just ‘any’ attorney is suited for this strategy; but when you find the right one, this could be the financial redemption you deserve. Attorneys for this strategy must be specially trained and real alligators.
No self-respecting attorney is going to consult with you until you have the REST title search. It’s a waste of their time and there are too many deserving, earnest and prepared clients. However, your mortgage servicer is not entitled to collect any mortgage payments, or assess late fees or attorney fees while your case is in litigation. All corrupt mortgage cases start through bankruptcy court. You can anticipate your case taking several months to litigate.
The REST Menu of Property Solutions Reports is a new type of REST Report now available called the REST- PSR. It’s a comprehensive Property Solutions Report for property defense that includes:
- Complete REST Report, NPV and AVM, or Automated Valuation Model
- vesting information
- chain of title
- assignments
- assessments
- judgements
- endorsements
- voluntary and involuntary liens
- legal descriptions
- allonges
- MERS data
- Pooling & Servicing Agreements
This report will tell you in advance if you have a winnable case in court. It is the bank’s own software and research. There’s no place for them to run or hide. The REST-PSR provides the same impeccable calculations that the REST Report has provided for years now. The 4000 REST Reports we’ve run so far have zero failures. Our reputation is absolutely golden. It will completely arm your attorney for a spectacular legal suit in court. It will significantly reduce the attorney preparation costs necessary for your case.
This report costs less, is more extensive, and more reliable than the typical title search from your title company. Your attorney knows this. Your court knows this. REST stands for ‘Real Estate Services Technology’ and is the leading edge of ‘Loan Disposition Analysis Reporting Technology.’ It costs $895.
As I said before, it takes a special attorney to prosecute a Broken Chain of Title case. I’m not in the business of recommending attorneys, but I can suggest aggressive attorneys in your state that are dedicated and educated to assisting homeowners that want to ‘take it to their mortgage servicers’ and demand their day in court. It takes a proficient attorney with just the right attitude and training. This is not for profit. I just know people. It’s up to you what you and your attorney do with the knowledge the Property Solutions Report gives you. The whole goal here is to put you in charge of your mortgage just like the others across the country that have succeeded in making their lender behave responsibly and ethically.
Call me at 970-242-2600 or submit my form below for more information. I write regularly about the successes and the specific state’s predilection in adjudicating these cases. The REST-PSR is designed for use by attorneys, requires special training, and is priced differently than the standard REST Report for obvious reasons.
FYI:
There are other HAMP calculators on the internet, including the HAMP website itself. However, the disclaimers indicate a lack of accuracy. They are little more than parlor games. The REST Report is the only proven calculator to hold up in court and duplicate your bank’s own calculations.
Please understand the difference between a mortgage modification, short sale, and a Broken Chain of Title case. In a mortgage modification or short sale application, the homeowner is the Respondent. Your mortgage servicer is the plaintiff. The issue of Chain of Title is never raised. Although similar to a forensic loan audit, the REST Title search is specifically designed for use by a plaintiff in court, whereas the forensic audit is designed to force a mortgage modification or short sale. The forensic audit strategy has not historically resulted in notable results for any of these strategies. The banks have learned that they can sandbag any mortgage modification or short sale applications except the REST Report. The banks have had no success disputing their own software calculations. REST software results have never failed.
In a Broken Chain of Title issue, the homeowner is the plaintiff, the prosecutor, if you will. I encourage you to call me to answer any questions you have about what might be the best strategy for you. I’m not here to push one strategy or another. Whatever you do to make your mortgage company recognize their complicity in this mortgage mess is up to you, but you need to know why you do is what is best for you.
Proven receptive states to the Broken Chain of Title strategy include: Maine, Massachusetts, Delaware, New Jersey, North Carolina, South Carolina, Florida, Ohio, Michigan, Kansas, Texas and Nevada. Kentucky and Utah are beginning to see the light. If you live in any other state, you could be the first to make your local paper or the Huffington Post. If you live in Arizona, don’t even consider this strategy. You are so screwed. Arizona residents are in denial and oblivious to the ignorance of their elected officials. California can only hope their new AG Harris prevails over the ignorant judiciary.
The internet being what it is, certain search terms need to be empahasized so that you can find the best information. The REST Report Property Solutions Reportis best classified as a title search to prove broken chain of title in a court suit. Synonyms include clear title, quiet title, assign title, assignment of title, and try title, depending on what state you’re in. The REST Report is used to calculate net present value using the mortgage servicer’s own software for the mortgage trust and allonges. It is a real estate title search.
This YouTube video explains the Broken Chain of Title, short sale, cloud on title situation
This page explains the Broken Chain of Title Property Solutions Report It is a pre-requisite to any attorney consultation for this strategy.
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