Fascinating/Terrifying article on the mortgage situation
 

I found this absolutely fascinating and terrifying all at the same time. I have had my house for almost 2 years now and the title was just put in my name a month ago. That leads me to believe that lots of other parts of my documents have to be messed up.

http://dailycaller.com/2010/10/14/th...#ixzz12p5HvXRY

How was the title just put in your name a month ago? Did you not close through a title company?

That article was pretty bad and skipped around to a lot of different problems. First off, a notary stamp doesn't give the bank the authority to foreclose. The Mortgage does if the note is not paid. All a notary stamp does is guarantees the signatures are by the people who are supposed to sign the Doc. If Law firms are forging notary stamps on signatures, then they should all be put in jail.

The part about Wells Fargo suing itself is pretty funny if true.

Well I went to refi this summer and the title was still in the name of the guy that got foreclosed on. So the house was foreclosed on, then bank owned, then sold to me. Well the bank never got the title put in their name. This was brought up when I was purchasing the house and was supposedly taken care of and I was allowed to close on the house. Obviously that should have never been allowed. I never got all of the info but I guess what basically happened is the bank sent some forms that were wrong to the title company, the title company signed off on them and sent them to the county office. County office notified them that it was all jacked up (this was after I closed). No one ever did anything about it until I went to refi and the error was found. That was in June. It took until late Sept for the issue to be corrected.

Well, thats why you buy title insurance. Your right. The title company should have never allowed that transaction to close. If something would have happened, they would be on the hook to you and the bank that financed you. Sounds like it all worked out though.

Yep I had the insurance and in the end it all worked out. I am just glad it was caught now instead of say 5 years from now if I was selling the house.

As for the article I don't know a ton about all the mortgage stuff going on but man some of those paragraphs scared me. Like the 233 trillion worth of crap loans that might be out there.

Where I live the County Clerk has an online record search. I can get see all legal actions that I may be involved in, and I can see all documents recorded regarding my house. So if someone was to file anything wrt me I could see it there. You should take a look online and see what's there if it's available in your location.