Title companies who insure the titles to new buyers of foreclosed properties, may be on the hook for billions of dollars. All it takes is one smart lawyer to figure out how to overturn foreclosure judgments that were granted after fraud upon the court was practiced by greedy banks and mortgage companies.
There is no statue of limitations on fraud that has been perpetuated on the court. Even if judges knew of the fraud and did nothing as they moved through their rocket docket thousands of cases a week. Since judges, most retired crack addicts, alcoholics, and dope snorters will never themselves be arrested or brought to justice for the fraud they allowed, they sit immune from penalties. They know it. But they also know that in cases of fraud upon the court by fraudulent assignments, affidavits, that if these can be later overturned, new buyers of these properties will be protected by title insurance. The financial responsibility will be totally shifted to title companies.
Any title company that insures these titles will deserve to take the hits. The only salvation for them in case they are insuring these titles is to place an exception in the policy and place the buyer at his own risk. This may have an effect on the lenders because they will not want to loan money on a property that does not have a clean title, or at least they are not insured for the loss of any title that is not clean. They will not accept a mortgagee policy with an exclusion of a foreclosure sale.
All buyers are to beware of the properties they purchase and make sure they get a title policy. Check it for exclusions. And if a recent foreclosure is excluded from coverage DO NOT BUT THAT PROPERTY. If you buy it and a judge later on decides there was fraud on the court, and to give the property back to a former owner, you will be out on the street with no one to sue to recover any losses.
Title Companies BEWARE!
And homeowners in foreclosure: even if you lose because some retired ole coke sniffer has fixed your case with a mortgage company and you were thrown out: keep all your paper work. Keep all your case files. You could go back and get that property 5, 10, 20 years later if fraud can be proven to have occurred. And any increase in property value will all be yours. Imagine a property worth $100,000 that increases in 20 years to 1.5 million, just how big your reward MIGHT BE. It could be your retirement. So, keep all your case information. All the transcripts of your trial. All the records. Keep them all in a safe place. You may not be able to get fairness from these present judges, but in the future you may still be the winner.
Then maybe CNN will do a real story. They do not care about the current fraud on the courts by these fraudulent assignments by MERS.