I have never had it this bad, but this has been hanging on the bulletin board in our office for a number of years. I thought that with all the new rules and regulations that the governent has put on us, and dealing with banks in short sales or foreclosures, that this may become the rule and not the exeption.
A Lawyer Answers the FHA
A New Orleans lawyer sought an FHA loan for a client. He was told that the loan would be granted if he could prove satisfactory title to the property offered as collateral. The title dated back to 1803 and he had to spend three months running it down. After sending the information to the FHA he got this reply:
"We received your letter today including the application for loan for your client, supported by an abstract of title. Let us compliment you on the able manner in which you prepared and presented the application. However, you have not cleared the the title before the year 1803, and therefore, before final approval can be accorded the application, it will be necessary that the title be cleared back of that year."
Annoyed the Lawyer replied:
"Your letter regarding title in Case No. 189156 has been received. I note that you wish title extended further back than I have presented it. I was unaware that any educated man in the world failed to know that Louisiana was purchased from France in 1803. the title to the land was acquired by France by right of conquest from Spain. the land came into possession of Spain by right of discovery made in 1492 by a sailor named Christopher Columbus, who had been granted the priviledge of seeking a new route to India by the then reigning Monarch, Isabella. the good Queen, being a pious woman and careful about title, almost, I might say as the FHA, took the precaution of securing the blessing of the Pope upon the voyage before she sold her jewels to help Columbus. Now the Pope, as you know is the emmissary of Jesus Christ, the Son of God, and God, who it is commonly accepted, made the world. Therefore, I believe it is safe to presume that he also made that part of the United States called Louisiana, and I hope to hell that you are satisfied."
I hope that if some of you feel like this in dealing with a bank or whatever, you too, can enjoy a chuckle!
Make it a great week! If you're looking to buy or sell real estate in Cedar City, Utah, give us a call. We would love to earn your business!
Comments(1)