Posted by granmapickle on 10/5/10 11:43am
Msg #355471

suspended closings in florida

Has anyone else been told that all reo closings in the state have been suspended?

Reply by Linda_H/FL on 10/5/10 11:53am
Msg #355472

Could it be this? I found this article..

http://activerain.com/blogsview/1869657/gmac-suspends-foreclosure-operations-judgments-may-be-voidable

Reply by Linda_H/FL on 10/5/10 11:57am
Msg #355474

Re: suspended closings in florida..to add

I'd also read somewhere that a major title insurer would not be insuring REO purchases and the loans associated with them. That could definitely throw a damper on REO transactions.

Reply by Linda_H/FL on 10/5/10 12:02pm
Msg #355476

Sorry...to clarify....

That would be Old Republic and they won't insure any title coming out of GMAC/Ally...

http://www.sourceoftitle.com/blog_user.aspx?uniq=16119

I'll hush now..

Reply by C. Rivera Chicago Notary Services on 10/5/10 12:24pm
Msg #355483

or Chase...see earlier post link... n/m

Reply by Hugh Nations Signing Agents of Austin on 10/5/10 1:09pm
Msg #355484

***I'll hush now..***

Promises, promises.

Or, for those of us who find your posts informative, threats and more threats.

Reply by Linda_H/FL on 10/5/10 1:14pm
Msg #355485

Re: ***I'll hush now..***....one of these days

I'll remember to formulate my *complete* answer before hitting post....

Reply by Marian_in_CA on 10/5/10 11:59am
Msg #355475

Good grief... what a nightmare.

Any notary who put his/her seal on those affidavits should be arrested.

Reply by granmapickle on 10/5/10 12:14pm
Msg #355478

In the meantime two closings of mine today have been stopped and there are no others that will be done in the near future.

Reply by Linda_H/FL on 10/5/10 12:18pm
Msg #355479

Not surprised....with all the problems cropping up

with the foreclosure mills, questionable notary practices, the fabrication of docments and falsified affidavits, it's going to be a nightmare if everyone who was ever in, and still is in, foreclosure jumps on this - wonder how many judgments are going to be reversed...

It's mindboggling.

Reply by granmapickle on 10/5/10 12:22pm
Msg #355481

Re: Not surprised....with all the problems cropping up

It is definitely putting us out of work

Reply by NJW/FL on 10/5/10 5:34pm
Msg #355509

REO purchase signing cancelled for me also....... n/m

Reply by Donna McDaniel on 10/5/10 6:19pm
Msg #355514

Was it Wells Fargo? Got one Friday. n/m

Reply by NJW/FL on 10/5/10 7:53pm
Msg #355522

Re: Was it Wells Fargo? Got one Friday.

No, not Wells Fargo. Have a cash deal Friday for REO, wonder if that will happen.

Reply by James Dawson on 10/5/10 6:22pm
Msg #355515

Re: Not surprised....with all the problems cropping up

How long do you think SS are gonna last, specially since they're extend 15 - 30 out paying notaries in the first place.

Reply by granmapickle on 10/5/10 7:24pm
Msg #355519

update

According to my source--fannie mae issued the suspension for all the major lenders and servicers. It might just be here in FL--after all we have so many problems. Hopefully this won't last long. I'm sure it must have to do with the title insurance issues.

Reply by jba/fl on 10/5/10 7:31pm
Msg #355520

LOL - Hope springs eternal? n/m

Reply by MW/VA on 10/5/10 10:25pm
Msg #355544

I can see that happening. They may be checking to make sure the foreclosure was legit BEFORE selling the property. I'm sure title insurance would not cover the new owner on that one.