Home › Forums › Housing › Free home anyone? The Utah court ruled, and this cat just got himself a free casa
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Doooh.
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January 17, 2011 at 11:08 AM #18405January 17, 2011 at 12:05 PM #654812
SK in CV
ParticipantI was just about to post something about this. Of note is that Utah IS a state, like California, with a non-judicial foreclosure process. There are nuances in each state’s laws, which may make similar claims in California without merit.
Also of note, Mish tends to be a pretty conservative guy, with little patience for borrowers behind in their payments. He calls this a travesty of justice. But then, after posting some alternate views from comments from his readers he finishes with an amended conclusion:
In general, I share the “mixed feelings” of [commenter] Dr. Evil. Unless Congress botches things up (always a distinct possibility), we will likely get a better system out of this than before. That is one way, the only way to legitimately have “mixed feelings” about this. Certainly there has been no justice served in regards to bank fraud. Not a single person has gone to jail or even been significantly fined.
And this is a completely different tact to an only peripherally related problem as was addressed in the thread here a week or 10 days ago. This is purely a MERS issue, and seems to be the result of the failure to properly record transfers of ownership of notes and security subsequent to original recording. Since the current owners of the notes weren’t recorded, they weren’t entitled to notice of the quiet title action. Nor was MERS, as MERS was never an owner.
January 17, 2011 at 12:05 PM #654874ParticipantI was just about to post something about this. Of note is that Utah IS a state, like California, with a non-judicial foreclosure process. There are nuances in each state’s laws, which may make similar claims in California without merit.
Also of note, Mish tends to be a pretty conservative guy, with little patience for borrowers behind in their payments. He calls this a travesty of justice. But then, after posting some alternate views from comments from his readers he finishes with an amended conclusion:
In general, I share the “mixed feelings” of [commenter] Dr. Evil. Unless Congress botches things up (always a distinct possibility), we will likely get a better system out of this than before. That is one way, the only way to legitimately have “mixed feelings” about this. Certainly there has been no justice served in regards to bank fraud. Not a single person has gone to jail or even been significantly fined.
And this is a completely different tact to an only peripherally related problem as was addressed in the thread here a week or 10 days ago. This is purely a MERS issue, and seems to be the result of the failure to properly record transfers of ownership of notes and security subsequent to original recording. Since the current owners of the notes weren’t recorded, they weren’t entitled to notice of the quiet title action. Nor was MERS, as MERS was never an owner.
January 17, 2011 at 12:05 PM #655471ParticipantI was just about to post something about this. Of note is that Utah IS a state, like California, with a non-judicial foreclosure process. There are nuances in each state’s laws, which may make similar claims in California without merit.
Also of note, Mish tends to be a pretty conservative guy, with little patience for borrowers behind in their payments. He calls this a travesty of justice. But then, after posting some alternate views from comments from his readers he finishes with an amended conclusion:
In general, I share the “mixed feelings” of [commenter] Dr. Evil. Unless Congress botches things up (always a distinct possibility), we will likely get a better system out of this than before. That is one way, the only way to legitimately have “mixed feelings” about this. Certainly there has been no justice served in regards to bank fraud. Not a single person has gone to jail or even been significantly fined.
And this is a completely different tact to an only peripherally related problem as was addressed in the thread here a week or 10 days ago. This is purely a MERS issue, and seems to be the result of the failure to properly record transfers of ownership of notes and security subsequent to original recording. Since the current owners of the notes weren’t recorded, they weren’t entitled to notice of the quiet title action. Nor was MERS, as MERS was never an owner.
January 17, 2011 at 12:05 PM #655609ParticipantI was just about to post something about this. Of note is that Utah IS a state, like California, with a non-judicial foreclosure process. There are nuances in each state’s laws, which may make similar claims in California without merit.
Also of note, Mish tends to be a pretty conservative guy, with little patience for borrowers behind in their payments. He calls this a travesty of justice. But then, after posting some alternate views from comments from his readers he finishes with an amended conclusion:
In general, I share the “mixed feelings” of [commenter] Dr. Evil. Unless Congress botches things up (always a distinct possibility), we will likely get a better system out of this than before. That is one way, the only way to legitimately have “mixed feelings” about this. Certainly there has been no justice served in regards to bank fraud. Not a single person has gone to jail or even been significantly fined.
And this is a completely different tact to an only peripherally related problem as was addressed in the thread here a week or 10 days ago. This is purely a MERS issue, and seems to be the result of the failure to properly record transfers of ownership of notes and security subsequent to original recording. Since the current owners of the notes weren’t recorded, they weren’t entitled to notice of the quiet title action. Nor was MERS, as MERS was never an owner.
January 17, 2011 at 12:05 PM #655940ParticipantI was just about to post something about this. Of note is that Utah IS a state, like California, with a non-judicial foreclosure process. There are nuances in each state’s laws, which may make similar claims in California without merit.
Also of note, Mish tends to be a pretty conservative guy, with little patience for borrowers behind in their payments. He calls this a travesty of justice. But then, after posting some alternate views from comments from his readers he finishes with an amended conclusion:
In general, I share the “mixed feelings” of [commenter] Dr. Evil. Unless Congress botches things up (always a distinct possibility), we will likely get a better system out of this than before. That is one way, the only way to legitimately have “mixed feelings” about this. Certainly there has been no justice served in regards to bank fraud. Not a single person has gone to jail or even been significantly fined.
And this is a completely different tact to an only peripherally related problem as was addressed in the thread here a week or 10 days ago. This is purely a MERS issue, and seems to be the result of the failure to properly record transfers of ownership of notes and security subsequent to original recording. Since the current owners of the notes weren’t recorded, they weren’t entitled to notice of the quiet title action. Nor was MERS, as MERS was never an owner.
January 17, 2011 at 12:05 PM #654817Doooh
ParticipantMish is a staunch libertarianism. He loves Ron Paul, voted for Obama, but now hates him along with Bush.
Socially conservative, but liberal otherwise.
Either way, diid I hear you say that California has similar Title laws to those of Utah?
January 17, 2011 at 12:05 PM #654879ParticipantMish is a staunch libertarianism. He loves Ron Paul, voted for Obama, but now hates him along with Bush.
Socially conservative, but liberal otherwise.
Either way, diid I hear you say that California has similar Title laws to those of Utah?
January 17, 2011 at 12:05 PM #655476ParticipantMish is a staunch libertarianism. He loves Ron Paul, voted for Obama, but now hates him along with Bush.
Socially conservative, but liberal otherwise.
Either way, diid I hear you say that California has similar Title laws to those of Utah?
January 17, 2011 at 12:05 PM #655614ParticipantMish is a staunch libertarianism. He loves Ron Paul, voted for Obama, but now hates him along with Bush.
Socially conservative, but liberal otherwise.
Either way, diid I hear you say that California has similar Title laws to those of Utah?
January 17, 2011 at 12:05 PM #655945ParticipantMish is a staunch libertarianism. He loves Ron Paul, voted for Obama, but now hates him along with Bush.
Socially conservative, but liberal otherwise.
Either way, diid I hear you say that California has similar Title laws to those of Utah?
January 17, 2011 at 12:27 PM #654832Participant[quote=Doooh]Mish is a staunch libertarianism. He loves Ron Paul, voted for Obama, but now hates him along with Bush.
Socially conservative, but liberal otherwise.
Either way, diid I hear you say that California has similar Title laws to those of Utah?[/quote]
With regards to economics, he’s on the conservative side, as compared to Yves Smith or the good folks at Angry Bear.
California is similar to the extent that California also has a non-judicial foreclosure process. I haven’t even looked at any of the actual filings, and I have no idea if Utah and California have similar quiet title laws or recording regulations.
I’ve seen opinions on issues like this in other states (specifically Florida, which is NOT a non-judicial foreclosure state), which would make quiet title actions problematic. The commentary was related to a dismissal of a foreclosure action, with prejudice. If I remember correctly, it is because Florida has a strict requirement of serving the actual owners of the note. If you don’t know who owns the note, that service is impossible. So the property owner now has a property without an enforceable mortgage, but can’t sell it without a lien release.
January 17, 2011 at 12:27 PM #654894Participant[quote=Doooh]Mish is a staunch libertarianism. He loves Ron Paul, voted for Obama, but now hates him along with Bush.
Socially conservative, but liberal otherwise.
Either way, diid I hear you say that California has similar Title laws to those of Utah?[/quote]
With regards to economics, he’s on the conservative side, as compared to Yves Smith or the good folks at Angry Bear.
California is similar to the extent that California also has a non-judicial foreclosure process. I haven’t even looked at any of the actual filings, and I have no idea if Utah and California have similar quiet title laws or recording regulations.
I’ve seen opinions on issues like this in other states (specifically Florida, which is NOT a non-judicial foreclosure state), which would make quiet title actions problematic. The commentary was related to a dismissal of a foreclosure action, with prejudice. If I remember correctly, it is because Florida has a strict requirement of serving the actual owners of the note. If you don’t know who owns the note, that service is impossible. So the property owner now has a property without an enforceable mortgage, but can’t sell it without a lien release.
January 17, 2011 at 12:27 PM #655491Participant[quote=Doooh]Mish is a staunch libertarianism. He loves Ron Paul, voted for Obama, but now hates him along with Bush.
Socially conservative, but liberal otherwise.
Either way, diid I hear you say that California has similar Title laws to those of Utah?[/quote]
With regards to economics, he’s on the conservative side, as compared to Yves Smith or the good folks at Angry Bear.
California is similar to the extent that California also has a non-judicial foreclosure process. I haven’t even looked at any of the actual filings, and I have no idea if Utah and California have similar quiet title laws or recording regulations.
I’ve seen opinions on issues like this in other states (specifically Florida, which is NOT a non-judicial foreclosure state), which would make quiet title actions problematic. The commentary was related to a dismissal of a foreclosure action, with prejudice. If I remember correctly, it is because Florida has a strict requirement of serving the actual owners of the note. If you don’t know who owns the note, that service is impossible. So the property owner now has a property without an enforceable mortgage, but can’t sell it without a lien release.
January 17, 2011 at 12:27 PM #655629Participant[quote=Doooh]Mish is a staunch libertarianism. He loves Ron Paul, voted for Obama, but now hates him along with Bush.
Socially conservative, but liberal otherwise.
Either way, diid I hear you say that California has similar Title laws to those of Utah?[/quote]
With regards to economics, he’s on the conservative side, as compared to Yves Smith or the good folks at Angry Bear.
California is similar to the extent that California also has a non-judicial foreclosure process. I haven’t even looked at any of the actual filings, and I have no idea if Utah and California have similar quiet title laws or recording regulations.
I’ve seen opinions on issues like this in other states (specifically Florida, which is NOT a non-judicial foreclosure state), which would make quiet title actions problematic. The commentary was related to a dismissal of a foreclosure action, with prejudice. If I remember correctly, it is because Florida has a strict requirement of serving the actual owners of the note. If you don’t know who owns the note, that service is impossible. So the property owner now has a property without an enforceable mortgage, but can’t sell it without a lien release.
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