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Quiet Title Action Attorney - Part I

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Published on Jan 19, 2012

Topic headings covered in this Part I:
1. The Quiet Title Action, 2. How REMIC Tax Law governs securitization and limits property transfers, 3. The Pooling and Service Agreement States that New York Law Governs Securitization Issues, 4. Where the Action Should Be Brought. 5. If your loan was securitized, there's a 90% chance of finding substantial defenses to a foreclosure action, 6. What Bank of America and MERS are saying, and 7. The Cost of the Quiet Title Action - only partially discussed - continued in Part II.
Homeowners in judicial or non-judicial states have an opportunity to reduce their monthly mortgage payments, or even eliminate the mortgage, through a quiet title action or a declaratory judgment action. Wall Street firms were in such a rush to securitize the nation's mortgages that they failed to follow the state real property laws as well as their own pooling and service agreements, and REMIC trust requirements. The result for some homeowners could be an order declaring the mortgage unenforceable, or (more likely) a significant reduction in the homeowner's monthly mortgage payment. Video discusses why New York law governs securitization issues; the famous Ibanez case in Massachusetts; a remarkable admission by Bank of America that it may not have or be able to put its hands on a large number of original notes; and how IRS REMIC requirements could help you nullify your mortgage. Quiet title actions for homeowners in every one of the 50 states can be brought in New York under the choice of venue doctrine (availability of witnesses), the home for securitization of mortgages. Attorney Carl Person represents homeowners from various states in quiet title actions commenced in New York. He can be reached at 212-307-4444 or 917-453-9376.

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