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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Lis Pen-dens gets wiped off? Posted by BTI on April 21, 2009 at 12:07 AM In Reply to: Lis Pendens gets wipped off? posted by Brain Kmail on April 15, 2009 at 10:22 PM Brain??? Really going by Brain or are you dyslexic? Well, I suggest you follow the advice of the others, and read the file. I have had only one problem in this area in my career. We sat down with the plaintiff and his attorney, and I gave them a projected net to him with attorneys fees, etc. if he won, and of course the attorney was going to be the winner. So we made a settlement offer that made sense. Or he could continue the suit and make his attorney richer, and we were going to walk, no biggie, because I only had a little option money in the deal at this point. And we really didn't want to get involved at this point and just decided to take a shot. Apparently the plaintiff asked the attorney to work on contingency after we left, and that ended that and he decided to take a few bucks and settle. I won't go into the massive details but it appeared that if he won, he would have been senior to the two mortgages, even though he filed the suit after the TD's were recorded because if the current owner did not have legal title at the time he took out the loans,then he couldn't have given naked title to the lenders as security for the loans. Of course there were many other issues such as the current owner claim he bought from a bona fide purchaser and other claims. Brian Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Brain??? : Really going by Brain or are you dyslexic? : Well, I suggest you follow the advice of the others, and read the file. : I have had only one problem in this area in my career. We sat down with the plaintiff and his attorney, and I gave them a projected net to him with attorneys fees, etc. if he won, and of course the attorney was going to be the winner. : So we made a settlement offer that made sense. Or he could continue the suit and make his attorney richer, and we were going to walk, no biggie, because I only had a little option money in the deal at this point. And we really didn't want to get involved at this point and just decided to take a shot. : Apparently the plaintiff asked the attorney to work on contingency after we left, and that ended that and he decided to take a few bucks and settle. : I won't go into the massive details but it appeared that if he won, he would have been senior to the two mortgages, even though he filed the suit after the TD's were recorded because if the current owner did not have legal title at the time he took out the loans,then he couldn't have given naked title to the lenders as security for the loans. Of course there were many other issues such as the current owner claim he bought from a bona fide purchaser and other claims. : Brian [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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