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[+] Learn Something New Everyday - Jay Duncan/MO (4 replies)
7/12/2018 12:37:04 PM (1023 views)

Sterling Title - Joni Bargel/MN
7/11/2018 2:11:44 PM (678 views)

[+] NALTA or ALTA? - Catherine Anderson/TN (1 reply)
7/11/2018 11:16:15 AM (699 views)

[-] Greatest Abstractor Story - Jay Duncan/MO (4 replies)
7/11/2018 10:28:53 AM (1165 views)

In light of a client's new requirement to have full searches in Missouri go all the way back to Land Patent ( 160 to 190 years or so), I thought this story needed dusting off and re-posting.

 

 Everyone who has ever bought a house can enjoy this it's too 
Good not to share! 

FHA Loan 

A New Orleans lawyer sought an FHA loan for a client. He was told 
The loan would be granted if he could prove satisfactory title to a parcel of property being offered as collateral. The title to the property dated back to 1803, which took the Lawyer three months to track down. After sending the information to the FHA, he received the following reply: 

(Actual letter): 

"Upon review of your letter adjoining your client's loan application, we note that the request is supported by an Abstract of Title. While we compliment the able manner in which you have prepared and presented the application, we must point out that you have only cleared title to the proposed collateral property back to 1803. Before final approval can be accorded, it will be necessary to clear the title back to its origin." 

Annoyed, the lawyer responded as follows (actual letter): 

"Your letter regarding title in Case No. 189156 has been received. I note that you wish to have title extended further than the 194 years covered by the present application. I was unaware that any educated person in this country, particularly those working in the property area, would not know that Louisiana was purchased, by the U.S., from France in 1803, the year of origin identified in our application. For the edification of uninformed FHA bureaucrats, the title to the land prior to U.S. ownership was obtained from France, which had acquired it by Right of Conquest from Spain. The land came into the possession of Spain by Right of discovery, made in the year 1492 by a sea captain named Christopher Columbus, who had been granted the privilege of seeking a new route to India by the Spanish monarch, Isabella. The good queen, Isabella, being a pious woman and almost as careful about titles as the FHA, took the precaution of securing the blessing of the Pope before she sold her jewels to finance Columbus' expedition. Now the Pope, as I'm sure you may know, is the emissary of Jesus Christ, the Son of God, and God, it is commonly accepted, created this world. Therefore, I believe it is safe to presume that God also made that part of the world called Louisiana. God, therefore, would be the owner of origin and His origins date back, to before the beginning of time, the world as we know it AND the FHA. I hope to hell you find God's original claim to be satisfactory. Now, may we have our damn loan?" 


The loan was approved. 

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Re: Greatest Abstractor Story - Judy Maclauchlan/LA
7/11/2018 10:43:43 AM (646 views)
Re: Greatest Abstractor Story - Heather St Amant/LA
7/16/2018 10:17:18 AM (539 views)
Re: Greatest Abstractor Story - William Duncan/NC
7/14/2018 3:52:33 AM (624 views)
Re: Greatest Abstractor Story - g h/SC
7/16/2018 11:21:46 AM (539 views)

[+] PRO TITLE NON-PAYERS - Lu Rivera/PA (5 replies)
7/9/2018 3:44:57 PM (1262 views)


AccuSearch Company


[+] Tail End Insurance Requirements - Lynne Goodwin/VA (7 replies)
7/8/2018 12:15:40 PM (850 views)

Vincent Lawson - Shannon Walker/AL
7/5/2018 11:21:35 PM (616 views)

First Equity Melville NY - Terry Ray/OH
7/3/2018 2:46:48 PM (529 views)

[+] Releases - kay morris/VA (2 replies)
6/29/2018 3:11:19 PM (1005 views)

[+] Lumar Document Retrieval - F P/VA (22 replies)
6/29/2018 2:54:11 PM (1428 views)

Marin County California strike - Dan Zook/NY
6/28/2018 5:13:14 PM (1020 views)

[+] Clerks Not Wanting To Assist w/ Copies - David Beloff/VA (6 replies)
6/28/2018 9:59:23 AM (1253 views)

Secure Land and Title LLC - Jana Urban-Buzek/OH
6/27/2018 1:39:30 PM (813 views)

[+] Advantage Settlement Services - Jana Urban-Buzek/OH (1 reply)
6/27/2018 1:38:10 PM (814 views)

[+] Global Data - Lucille Femine/TN (2 replies)
6/27/2018 10:44:37 AM (991 views)


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