Special offer

The importance of a proper chain of title....funny!

By
Mortgage and Lending with C2 Financial NMLS #279125


You have to love this lawyer...

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 reply from FHA):

"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 response):

"Your letter regarding title in Case No.189156 has been received. I note that you wish to have title extended further than the 206 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 United States 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, Queen 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's 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 you find God's original claim to be satisfactory.  Now, may we have our loan?"

The loan was immediately approved! 

Posted by

Become a Fan!!  Copyscape

All content protected by copywrite and may not be copied, in part or in whole, without the express written consent of the author.  Reblogging with proper authorship credit is allowable.

Deborah "Dee Dee" Garvin

NMLS #279125

 

 

If you are looking for answers and creativity to accomplish your home buying goals and financial stability, contact me for a thorough analysis of your current and future home buying and refinance opportunities.  FHA, VA, renovation expert, HUD Certified First Time Homebuyer Certified Mortgage Banker.

(619) 906-6288

 

Krista Lombardi
Prudential Calfornia Realty - San Diego, CA

Cute!

Sep 04, 2010 01:27 PM
Kathy Kenney
Keller Williams, Princeton, NJ - Robbinsville, NJ
Realtor - Princeton & Central NJ Homes for Sale

I've seen this before, very clever!

Sep 04, 2010 01:32 PM
Karen Bernetti
Southington, CT

this is priceless! 

Sep 04, 2010 02:28 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Deborah,

I can't understand why there is kersplat on your post as if you had used someone's else material. Looks so unfair

Thanks

Sep 04, 2010 04:48 PM
Mike McCann Nebraska Land Broker
Mike McCann - Broker, Mach1 Realty Farm & Commercial Land Broker-Auctioneer Serving Nebraska - Kearney, NE
Farm & Commercial Property For Sale 308-627-3700

I enjoyed that story...and  I believe that!!!

Sep 04, 2010 04:53 PM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Thx for sharing.  This is hilarious.  Great way to start my day.

Sep 04, 2010 11:33 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Deborah,

This is really a funny story..I needed a little lift this morning and this is priceless. Have a safe and happy Labor Day week-end Deborah!

Sep 05, 2010 02:50 AM
Bill Burchard
3B Realty: 951-347-3818, CA - Murrieta, CA
Broker, Realtor, Representing Buyers and Sellers

I got a good chuckle out of this, Deborah. Thanks for sharing!

Sep 05, 2010 03:25 AM
Deborah "Dee Dee" Garvin
C2 Financial - San Diego, CA
C2 Financial

Krista,  I keep stories like this around me for reference whenever a underwriting issue threatens to drive me over the edge!

Katherine,  It has been around for a while, but so worth a re-visit!

Karen,  We have to find our giggles where we can these days!

John,  This story has circulated on the "shared email" curcuit for several years...no I did pen it and that explains the kersplat!  LOL!

Mike,  It is so close to being believable that it scares me to death!

Debbie,  A good laugh is always a good way to start the day!

Dorie,  Happy Labor Day weekend to you as well!  Hope you are relaxing and having some fun!

Bill,  Hey, call me anytime...I am good for at least a chuckly a day!  Underwriting and lending provide lots of fodder!

Sep 05, 2010 07:07 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Well it is hard for the government to think outside of the box.  Sometimes you have to explain common sense to them.

Sep 06, 2010 04:46 AM
April Bawden

I love this so much!

Oct 02, 2017 10:56 PM