oops...missed two items in foreclosure.....

Usually the foreclosing mortgage lender buys the property at sheriff sale.  Sometimes a third party decides to outbid the lender and that's what happened on the case sitting in our office.  Not only did a third party decide to outbid the lender but they immediately listed the property for sale and it went under contract BEFORE the sheriff's deed was recorded.  So that's a pretty good indication

oops...missed two items in foreclosure.....

Usually the foreclosing mortgage lender buys the property at sheriff sale.  Sometimes a third party decides to outbid the lender and that's what happened on the case sitting in our office.  Not only did a third party decide to outbid the lender but they immediately listed the property for sale and it went under contract BEFORE the sheriff's deed was recorded.  So that's a pretty good indication

query: do mortgage underwriters contact the IRS

At closing, most mortgage lenders require that the borrowers sign an IRS form 4506 which gives them the right to obtain a copy of the borrower's income tax form.  Mortgage lenders DO contact the IRS routinely as part of a good quality control program.  It's a fraud prevention tool and they DO catch fraudsters using this method.

I strongly advise against falsifying tax forms used in a mortgage

query: do mortgage underwriters contact the IRS

At closing, most mortgage lenders require that the borrowers sign an IRS form 4506 which gives them the right to obtain a copy of the borrower's income tax form.  Mortgage lenders DO contact the IRS routinely as part of a good quality control program.  It's a fraud prevention tool and they DO catch fraudsters using this method.

I strongly advise against falsifying tax forms used in a mortgage

hmmm...a word about a potential title insurance claim

In 2006 we insured a transaction for property which sat in two different municipalities.  The house and most of the land was in one and the back 50 feet of land was in another.

I received a letter last week from the grandfather of the insured stating that we had failed to clear title on the 50 feet and that we had better pay roughly $700 to resolve the matter and that his granddaughter ought not

hmmm...a word about a potential title insurance claim

In 2006 we insured a transaction for property which sat in two different municipalities.  The house and most of the land was in one and the back 50 feet of land was in another.

I received a letter last week from the grandfather of the insured stating that we had failed to clear title on the 50 feet and that we had better pay roughly $700 to resolve the matter and that his granddaughter ought not