My Most Important Blog..My Best Kept Real Estate Secret

I have had success with loan modifications and short sales. Tremendous success with foreclosure defense either as an attorney or an expert witness. There is one central element to all of this success: a report of title.

More often than not, there is some defect in the chain of title in foreclosure. Perhaps the Note was assigned; perhaps the Deed of Trust or mortgage was assigned. Rarely are the assignments properly perfected. In a foreclosure defense, it probably means that the servicing agent or the plaintiff is not the "real party in interest". In other words, they do not have legal standing - the legal right - to sue. In such cases, the foreclosure is frequently dismissed. Another aspect of this is the heralded "produce the note" affirmative defense which requires the bank to prove that they have the original Note. If they cannot produce the original, a Court is likely to dismiss the foreclosure for the same reason - the plaintiff/bank is not the real party in interest, or they cannot prove that they are the real party in interest.

In loan modifications and short sales, this leverage provides justification for the bank to work with you. Information is key and the more you have, the better the result. It may cost a little bit of money (from a few hundred dollars to a little over a thousand) but it is money well spent.