Clouds on Title

Distressed property sales are becoming a significant part of the real estate market landscape. Wall Street took our mortgages to a new level with Credit Derivatives’ and MERS. These are now poised to bring potential problems with the chain of title.  Here is a thought-provoking article written by professor of real estate, George Mantor, which uncovers some of the potential title pitfalls with foreclosures and short sales and the impact it could have on the home buyers and Realtors.

  

If recent court decisions are any indication, we are headed for an explosion of litigation in this area.

 

And now, Massachusetts Courts have revealed the possibility that unlawful foreclosures, dating back to 1989, might be invalidated and that buyers of foreclosed properties and short sales may have clouded titles.

 

The implications are enormous for title companies, bankruptcy attorneys, real estate agents, those facing foreclosure, and those who have lost their homes

 

To read the full article please follow this link

 

 

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