Grandpa Ward, Elsa, and Helen at Reuben H. Fleet Science Center

InnoVest Resource Management's

Foreclosure Forum

Home

Discussion Board

"Hands-On" Training

Title Holding Trust

Annual Reunion

Speaking Schedule

Store

Foreclosure Fundamentals

Code References

50 State Foreclosure Basics

Foreclosure Glossary

Foreclosure Statistics

75+ Yrs Interest Rates

Fillable Forms

Archived Articles

Dingbat Retirement Plan

Links

Contact / Map | Priceline Tips

About Us

Home

 

Innovest Resource Management BBB Business Review

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ]

Re: No. Don't drink the Kool-Aid (nt)

Posted by Bill H on August 01, 2011 at 11:38 AM

In Reply to: Re: No. Don't drink the Kool-Aid (nt) posted by Rod Ciferri on August 01, 2011 at 7:26 AM

: : Rod-
: : Could you expand on this statement-
: : "When a homeowner initially buys he/she owns the property free and clear after all liens are cleared"

: : At what point specifically does the buyer who just bought the property own the property free and clear, even if instantaneous? What document or evidence would show that?

: By operation of law, the grant deed has to come before the deed of trust. Otherwise, the trustor has no security to give.

I suppose that by mere operation of law that the one short instant between the time the old lien is removed and the new deed and deed of trust are recorded, yes, the buyer does own the property free and clear. NOT going to happen that you get it free and clear by this process.

The other "Fly in the ointment" is that MERS is merely a recording and servicing agency.

HAS NOTHING to do with the mess that was created by the banks and wall street in putting together packages of mortgages and securitizing and selling them.


Good Luck,

Bill H


Follow Ups:


Post a Followup:

Name    : 
E-Mail  : 
Subject : 
Comments:


[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ]

WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-date("Y"), InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455