Every homeowner should listen to this podcast. It is the most cogent and coherent explanation I’ve ever heard of Broken Chain of Title
Utah Attorney Walter Keane is the lawyer that filed four quiet title claims last year, which means he was seeking to obtain a court order granting clear title to the properties in question. And all four were granted by the Utah courts (four quieted titles to the four homes). And at least one of the homeowners subsequently sold his home and went on his very merry way. In the January 2012 Harper’s magazine, Christopher Ketcham wrote a feature story about Walter, among other things, titled: “STOP PAYMENT! A homeowners’ revolt against the banks.”
The Utah State appeals court ended up reversing the lower court decisions. Free houses are just few and far between. Walter Keane is a very knowledgable and experienced lawyer who is also an out-of-the-box thinker. www.waltertkeane.com.
Notes for Podcast Part 1:
2005 represented several huge land developers
Personal credit fellto the bottom because of the economy
Every foreclosed house is a drain of $80,000 to economy
MERS fraud was blatant – private registry
Utah is non-judicial foreclosure state
Prommisory Note – Trust Deed
Utah is vicious in evictions
Landmark vs. Kessler in Kansas
No one was aware of broken chain of title in 2009
County Recorder is the law/record of the land
every Recorder process is unique
Current system – there is no owner
Banks got all the love, homeowners got the shaft
Utah judges are exemplary
Judges must follow the law, up to Legislature to re-write the law
Utah Republican legislator brought legislation
homeowner has the right to negotiate w/ Trust Deed Holder
Three parts to MERS
Mortgage Servicers are the least qualified and prepared to negotiate
Servicer business pland accounted for 1% foreclosure rate
They’re now foreclosing at 10% of the country
Mortgage Servicers are just bill collectors
Two theories as to why servicers make more money on foreclosure
Servicers wear down the homeowner with obfuscation
Quit blaming the shark
Why have laws when no one follows them?
There are no regulators – no excesses were curbed
In Utah, servicers have no legal right to be involved in foreclosure
definition of ‘lender’ is undefined
Pooling and Servicing Agreements written by servicers – to benefit servicers
Investors are abused almost as much as homeowners
Is the homeowner going to subsidize the servicer troubles?
Notes for Podcast Part 2:
Fallout will fall on state legisatures
Obama has to win the foreclosure states
Foreclosed homeowners voted Tea Party
Homeowners never saw stimulus money
Republicans say we aren’t foreclosing fast enough
Pro Se defendant followed Free House judgement in Utah
Trust Agreement always concerns three parties
Trustee can’t identify those three parties
Legal precedent should benefit homeowner
Senator Bramble in Utah is chasing remedy to loopholes in Trust Deed law
In California, the only rcourse to foreclosure is to start packing
8 million have lost their house since 2008
Published Unemployment statistics are propaganda, unrealistic
Insist on transparency in real estate law – especially in non-judicial states
Market demand for houses is half of what it used to be
No hope for recovery in the foreseeable future
Unlike AG Holder, Depression Era AG prosecuted banks
“End of Growth” by Richard Hindberg
MERS is designed to yield broken chain of title 70% of the time
Blacklisted by title companies in Utah
Principal reduction=Equity share?
Emminent Domain – Pay homeowner just compensation for foreclosed home
have the state establish a re-securitization pool at 60% value
solve state budget crisis without raising taxes
solve inequities in the market
injures public tranquility and welfare
Banks don’t elect people – money won’t buy out of this
When Nevada prosecuted a Robosigner, foreclosure filings fell by 80%
If you don’t hire an attorney to fight foreclosure, you’re better off to just disengage and walk away.
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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 Report is best classified as a real estate 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, allonge and allonges. The REST Report is independent mortgage advice and more efficient than a forensic loan audit. Chain of title and the now endemic broken chain of title has been mandatory to sell a property since the Magna Carta in 1066.
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.
Read it here
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