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Need your opinion please. - Larry Crooks/OH
4/19/2005 4:50:48 PM (2531 views)
Re: Need your opinion please. - Jay Duncan/MO
4/19/2005 5:24:28 PM (3692 views)
Re: Need your opinion please. - Larry Crooks/OH
4/19/2005 5:32:36 PM (3767 views)
Re: Need your opinion please. - Kevin Ahern/CT
4/19/2005 6:41:46 PM (3768 views)
Re: Need your opinion please. - Robert Breakell/CT
4/19/2005 6:49:34 PM (3711 views)
Re: Need your opinion please. - David Bloys/TX
4/19/2005 8:37:10 PM (3768 views)
Re: Need your opinion please. - Robert Franco/OH
4/19/2005 8:47:28 PM (3827 views)
Re: Need your opinion please. - J.T. Shoemaker/NY
4/19/2005 9:09:56 PM (3626 views)
Re: Need your opinion please. - Kevin Ahern/CT
4/19/2005 9:30:57 PM (3751 views)
Re: Need your opinion please. - Robert Franco/OH
4/19/2005 10:29:06 PM (3731 views)
Re: Need your opinion please. - Larry Crooks/OH
4/20/2005 7:28:24 AM (3798 views)
Re: Need your opinion please. - Larry Crooks/OH
4/20/2005 7:18:18 AM (3762 views)
Re: Need your opinion please. - Lisa Ramsey/TX
4/20/2005 8:58:25 AM (3714 views)
Re: Need your opinion please. - Larry Crooks/OH
4/20/2005 9:20:53 AM (3715 views)
Re: Need your opinion please. - Lisa Ramsey/TX
4/20/2005 10:34:47 AM (3727 views)
Re: Need your opinion please. - Barbara Bennett/IN
4/20/2005 5:46:20 PM (3655 views)

Hey Shannon.... - Loretta Reed/MD
4/19/2005 1:48:33 PM (2585 views)
Re: Hey Shannon.... - Shannon Blatt/VA
4/19/2005 10:49:43 PM (3817 views)
Re: Hey Shannon.... - Loretta Reed/MD
4/19/2005 11:18:06 PM (3784 views)
Re: Hey Shannon.... - Shannon Blatt/VA
4/19/2005 11:40:34 PM (3797 views)
Re: Hey Shannon.... - george Hubka/MI
4/20/2005 3:20:11 PM (3690 views)
Re: Hey Shannon.... - Loretta Reed/MD
4/20/2005 3:41:26 PM (3535 views)
Re: Hey Shannon.... - george Hubka/MI
4/20/2005 5:48:44 PM (3731 views)
Re: Hey Shannon.... - Shannon Blatt/VA
4/20/2005 6:08:46 PM (3572 views)

Countywide Abstract, Inc. - J.T. Shoemaker/NY
4/19/2005 12:46:38 PM (4075 views)
Re: Countywide Abstract, Inc. - Francine Miller/NY
5/23/2005 10:18:04 AM (3559 views)

notary blacklist? - Kevin Ahern/CT
4/19/2005 6:21:17 AM (4625 views)
Re: notary blacklist? - J.T. Shoemaker/NY
4/19/2005 8:19:27 AM (4224 views)
Re: notary blacklist? - Kevin Ahern/CT
4/19/2005 8:25:08 AM (4185 views)
Re: notary blacklist? - Norean Cashwell/GA
4/19/2005 7:53:10 PM (4068 views)
Re: notary blacklist? - Kevin Ahern/CT
4/19/2005 8:04:04 PM (4232 views)
Re: notary blacklist? - James "Lin" Toney/MS
4/19/2005 9:39:39 AM (4245 views)
Re: notary blacklist? - Kevin Ahern/CT
4/19/2005 9:56:53 AM (4154 views)
Re: notary blacklist? - Lisa Ramsey/TX
4/19/2005 10:29:23 AM (4076 views)
Re: notary blacklist? - Judy Nisonger/CA
4/19/2005 11:17:53 AM (4212 views)
Re: notary blacklist? - Kevin Ahern/CT
4/19/2005 1:57:14 PM (3962 views)
Re: notary blacklist? - Kevin Ahern/CT
4/19/2005 11:23:43 AM (4220 views)
Re: notary blacklist? - J.T. Shoemaker/NY
4/19/2005 12:37:16 PM (4111 views)
Re: notary blacklist? - Shannon Blatt/VA
4/19/2005 1:12:23 PM (4013 views)

Creating Business - Mark Sizemore/IN
4/18/2005 11:58:33 AM (2548 views)
Re: Creating Business - Jay Duncan/MO
4/18/2005 2:56:53 PM (3993 views)
Re: Creating Business - george Hubka/MI
4/18/2005 5:43:24 PM (3870 views)
Re: Creating Business - Loretta Reed/MD
4/18/2005 7:01:48 PM (3820 views)
Re: Creating Business - Jay Duncan/MO
4/18/2005 8:23:48 PM (3779 views)
Re: Creating Business - Loretta Reed/MD
4/18/2005 8:31:23 PM (3874 views)




Conference forum - Shannon Blatt/VA
4/17/2005 11:30:38 PM (2575 views)
Re: Conference forum - Robert Franco/OH
4/18/2005 10:31:17 AM (3791 views)

NNBS/Anytime Services - Becky Cantrall/NC
4/14/2005 8:00:46 PM (2785 views)
Re: NNBS/Anytime Services - Matt Pardue/KY
5/2/2005 9:58:39 PM (3975 views)

Anyone know about Stonewood Group? - SHARON YAHRAES/ID
4/14/2005 1:41:13 PM (2690 views)
Re: Anyone know about Stonewood Group? - Donna Grady/NC
4/14/2005 1:58:41 PM (3924 views)
Re: Anyone know about Stonewood Group? - george Hubka/MI
4/14/2005 3:15:20 PM (3822 views)
Re: Anyone know about Stonewood Group? - Becky Cantrall/NC
4/14/2005 7:55:23 PM (3828 views)
Re: Anyone know about Stonewood Group? - Rachel Crain/CA
4/21/2005 3:11:16 AM (3814 views)

Mortgage Verification - Sue/PA
4/13/2005 12:03:36 PM (2411 views)
Re: Mortgage Verification - george Hubka/MI
4/13/2005 1:20:12 PM (3943 views)
Re: Mortgage Verification - Tammy Harkay/OH
4/28/2005 9:48:48 PM (3674 views)
Re: Mortgage Verification - Lisa Ramsey/TX
4/30/2005 12:13:50 AM (3796 views)

SECURED TITLE - PAM DESMARAIS/NC
4/13/2005 9:47:00 AM (2868 views)
Re: SECURED TITLE - Lisa Ramsey/TX
4/13/2005 10:34:03 AM (3644 views)
Re: SECURED TITLE - george Hubka/MI
4/13/2005 1:25:00 PM (3612 views)
Re: SECURED TITLE - Lisa Ramsey/TX
4/13/2005 3:23:26 PM (3536 views)
Re: SECURED TITLE - Cathy Iffergan/TX
4/13/2005 10:16:54 PM (3498 views)
Re: SECURED TITLE - Kevin Ahern/CT
4/14/2005 5:37:14 AM (3563 views)
Re: SECURED TITLE - Unida ukinclue/NC
4/14/2005 12:06:30 PM (3535 views)
Re: SECURED TITLE - Donna Grady/NC
4/14/2005 12:31:54 PM (3701 views)
Re: SECURED TITLE - george Hubka/MI
4/14/2005 1:08:27 PM (3605 views)
Re: SECURED TITLE - Donna Grady/NC
4/14/2005 1:50:30 PM (3653 views)
Re: SECURED TITLE - Barbara Bennett/IN
4/14/2005 5:18:01 PM (3622 views)
Re: SECURED TITLE - PAM DESMARAIS/NC
4/14/2005 11:37:40 PM (3488 views)
Re: SECURED TITLE - Unida ukinclue/NC
4/14/2005 7:29:28 PM (3643 views)
Re: SECURED TITLE - Kevin Ahern/CT
4/14/2005 8:15:17 PM (3561 views)
Re: SECURED TITLE - Unida ukinclue/NC
4/14/2005 10:04:33 PM (3467 views)
Re: SECURED TITLE - Kevin Ahern/CT
4/15/2005 6:54:15 AM (3689 views)

You really should have read my posting a little more carefully before attempting to pontificate and speak Ex Cathedra on the subject. You may also wish to consider a remedial reading course. You have misquoted me.

In your earlier post you limited your comments to the impact of an abstractor's late recording of a mortgage and your perception of additional expenses to the law firm arising therefrom. That is the posting to which I responded. If I recall you said nothing about failure to follow closing instructions and insuring title.

Connecicut is a race state also, and I fully understand the
 implications of an intervening lien being recorded with respect to the priority of the mortgage.

In your earlier post you indicated that a late recording may result in the redrafting of the mortgage and some imagined extra expense to the law firm for having to close the loan a second time. Let me try to get through to you again in terms that you may more readily understand... THERE IS NO SUCH EXPENSE NECESSITATED BY A SECOND CLOSING BECAUSE THERE IS NO NEED FOR A SECOND CLOSING. Can I make it any more clear?

The loan has been closed. The loan and mortgage are binding as the the Mortgagor and the Mortgagee. The recording of the mortgage perfects the security interest, and protects the lender's priority for a future foreclosure. It serves as notice to future third party lien holder's that the lender is prior in claim to their respective liens.

If you read my earlier posting, I said that an intervening lien is a problem, and that law firms in this area do not record the mortgage in that circumstance. IT DOES NOT REQUIRE A SECOND CLOSING. It creates a problem with the lender's priority of claim when the lender tries to perfect the security interest. If there are intervening liens the borrower has either misrepresented something on his loan application or has incurred an additional financial obligation (such as a mechanic's lien for work done on the property) while the mortgage application was pending. In this instance the lender will require the borrower to have the intervening liens released, and if they are not released accelerate the mortgage, demand payment and foreclose. The lender has two options. It can record the mortgage behind the intervening liens, pay the liens off to protect their position, foreclose, and seek the expenses as part of their foreclosure action. Mortgages routinely contain a clauses that allows them to do this. The other option that a lender can choose is not to record the mortgage and sue on the promissory note for money damages.

In so far as title insurance is concerned, the title insurance carriers protect themselves through an affidavit at closing indicating that the borrower has done nothing to encumber the title since the title search. Otherwise the intervening lien is an exclusion from coverage.

Now is there anything else on which you are confused?

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Re: SECURED TITLE - Unida ukinclue/NC
4/15/2005 8:18:35 PM (3516 views)
Re: SECURED TITLE - Robert Franco/OH
4/15/2005 8:50:55 PM (3449 views)
Re: SECURED TITLE - Kevin Ahern/CT
4/16/2005 7:56:59 AM (3479 views)
Re: SECURED TITLE - Kevin Ahern/CT
4/16/2005 7:50:31 AM (3613 views)
Re: SECURED TITLE - george Hubka/MI
4/15/2005 8:09:52 AM (3492 views)
Re: SECURED TITLE - Kevin Ahern/CT
4/15/2005 8:33:40 AM (3687 views)
Re: SECURED TITLE - PAM DESMARAIS/NC
4/14/2005 11:24:25 PM (3524 views)
Re: SECURED TITLE - Unida ukinclue/NC
4/15/2005 12:28:21 PM (3594 views)
Re: SECURED TITLE - John PAxton/NC
4/15/2005 3:41:51 PM (3505 views)
Re: SECURED TITLE - PAM DESMARAIS/NC
4/15/2005 4:20:06 PM (3504 views)
Re: SECURED TITLE - george Hubka/MI
4/15/2005 10:53:18 PM (3447 views)
Re: SECURED TITLE - Shannon Blatt/VA
4/14/2005 8:02:09 PM (3500 views)
Re: SECURED TITLE - Unida ukinclue/NC
4/14/2005 10:07:38 PM (3511 views)
Re: SECURED TITLE - PAM DESMARAIS/NC
4/14/2005 11:32:34 PM (3418 views)
Re: SECURED TITLE - David Bloys/TX
4/15/2005 7:55:29 AM (3491 views)
Re: SECURED TITLE - george Hubka/MI
4/15/2005 8:15:12 AM (3576 views)
Re: SECURED TITLE - David Bloys/TX
4/15/2005 9:17:15 AM (3462 views)
Re: SECURED TITLE - Donna Grady/NC
4/14/2005 12:21:40 PM (3493 views)
Re: SECURED TITLE - george Hubka/MI
4/14/2005 1:24:55 PM (3491 views)
Re: SECURED TITLE - Kevin Ahern/CT
4/14/2005 2:38:47 PM (3288 views)
Re: SECURED TITLE - Douglas Gallant/OH
4/15/2005 6:09:55 PM (3295 views)
Re: SECURED TITLE - Unida ukinclue/NC
4/15/2005 8:24:35 PM (3356 views)
Re: SECURED TITLE - Douglas Gallant/OH
4/15/2005 11:05:41 PM (3400 views)
Re: SECURED TITLE...putting my 2 cents worth in - Loretta Reed/MD
4/16/2005 12:41:23 PM (3402 views)
Re: SECURED TITLE...putting my 2 cents worth in - Shannon Blatt/VA
4/16/2005 4:32:45 PM (3381 views)
Re: SECURED TITLE...putting my 2 cents worth in - Loretta Reed/MD
4/16/2005 4:57:08 PM (3263 views)
Re: SECURED TITLE...putting my 2 cents worth in - Lisa Ramsey/TX
4/16/2005 5:06:08 PM (3397 views)
Re: SECURED TITLE...putting my 2 cents worth in - Shannon Blatt/VA
4/17/2005 11:01:18 PM (3185 views)
Re: SECURED TITLE...putting my 2 cents worth in - Lisa Ramsey/TX
4/16/2005 5:03:59 PM (3369 views)

more unlocked articles - Kim Haase/MT
4/12/2005 11:41:55 PM (2437 views)
Re: more unlocked articles - Lisa Ramsey/TX
4/13/2005 10:29:27 AM (3489 views)
Re: more unlocked articles - Kim Haase/MT
4/13/2005 10:35:35 AM (3384 views)
Re: more unlocked articles - Robert Franco/OH
4/13/2005 11:15:21 AM (3488 views)
Re: more unlocked articles - Kim Haase/MT
4/13/2005 11:51:21 AM (3587 views)
Re: more unlocked articles - Robert Franco/OH
4/13/2005 1:17:02 PM (3360 views)

Help for someone who wants to become a title abstractor - John Flanders/GA
4/11/2005 11:52:58 PM (2535 views)
Re: Help for someone who wants to become a title abstractor - Loretta Reed/MD
4/12/2005 8:38:23 AM (3723 views)
Re: Help for someone who wants to become a title abstractor - george Hubka/MI
4/12/2005 1:55:36 PM (3674 views)
Re: Help for someone who wants to become a title abstractor - Kevin Ahern/CT
4/12/2005 4:54:15 PM (3653 views)
Re: Help for someone who wants to become a title abstractor - george Hubka/MI
4/12/2005 10:45:43 PM (3765 views)
Re: Help for someone who wants to become a title abstractor - Kim Haase/MT
4/12/2005 1:10:20 PM (3547 views)

Cancellation policy... - Loretta Reed/MD
4/11/2005 7:31:15 PM (2575 views)
Re: Cancellation policy... - george Hubka/MI
4/11/2005 7:36:16 PM (3682 views)
Re: Cancellation policy... - Jay Duncan/MO
4/11/2005 8:13:50 PM (3668 views)
Re: Cancellation policy... - J.T. Shoemaker/NY
4/11/2005 11:21:59 PM (3587 views)
Re: Cancellation policy... - Shannon Blatt/VA
4/12/2005 1:46:12 AM (3590 views)
Re: Cancellation policy... - Kevin Ahern/CT
4/12/2005 8:36:10 AM (3569 views)
Re: Cancellation policy... - Lisa Ramsey/TX
4/12/2005 7:29:01 PM (3655 views)
Re: Cancellation policy... - Kevin Ahern/CT
4/12/2005 8:04:15 PM (3566 views)
Re: Cancellation policy... - george Hubka/MI
4/12/2005 10:51:36 PM (3514 views)
Re: Cancellation policy... - Lisa Ramsey/TX
4/13/2005 10:39:02 AM (3535 views)
Re: Cancellation policy... - Bernie O'Hare/PA
4/12/2005 9:06:10 PM (3407 views)
Re: Cancellation policy... - Deborah Manion/VA
4/13/2005 8:53:08 AM (7417 views)
Re: Cancellation policy... - Lisa Ramsey/TX
4/13/2005 10:41:22 AM (3610 views)
Re: Cancellation policy... - george Hubka/MI
4/13/2005 1:33:02 PM (3415 views)

CNBC Special on Real Estate Boom - Robert Franco/OH
4/11/2005 5:04:14 PM (2541 views)
Re: CNBC Special on Real Estate Boom - Mark Russomanno/NJ
4/11/2005 5:25:03 PM (3456 views)
Re: CNBC Special on Real Estate Boom - Robert Breakell/CT
4/11/2005 6:05:14 PM (3609 views)
Re: CNBC Special on Real Estate Boom - Kevin Ahern/CT
4/12/2005 8:18:26 AM (3434 views)
Re: CNBC Special on Real Estate Boom - Robert Franco/OH
4/12/2005 10:40:01 AM (3366 views)
I asked this same question on another forum - Susie/OH
4/13/2005 9:19:51 PM (3450 views)

Realty Track - Cathy Iffergan/TX
4/10/2005 8:03:57 PM (2120 views)


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