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QUIET TITLE USED TO ELIMINATE MORTGAGES - EXAMINED

Once again, some excellent information from Richard Zaretsky for home owners facing some very difficult times.  Many of whom are being preyed upon by unscrupulous folks that are trying to make money off those least able to afford it.
The issue of Quiet Title lawsuits brought by borrowers to invalidate their mortgages is gaining interest based upon flimsy default judgment success in a few isolated instances. Borrowers that are thinking of pursuing this avenue of “resolution” can’t point to a definitive “win” in court using this procedure, and the long term “resolution” desired of invalidating the mortgage still leaves the promissory note unpaid for which the borrower remains liable.
A Foreclosure “Offense”?
Is this “offense” to attack the lender really the Holy Grail that eliminates the home or commercial mortgage – regardless of it being upside down in value or the homeowner even being in financial distress? A multitude of promoters (for substantial fees) are saying so and even some attorneys. Some firms are selling “information packages” – essentially “how to” guides to mortgage borrowers, while other firms say they will represent you in the “process” of the elimination of the mortgage.
The Concept
The concept sounds simple: A homeowner mortgage ... more

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