Salvage title for houses
By Jason Werner
The phrase SALVAGE TITLE is most commonly known in the auto industry.
For example, CarFax, which they self-proclaim themselves “the most trusted provider of vehicle information” develops reports that “may include:
Title information, including salvaged or junked titles
Flood damage history
Total loss accident history
Number of owners
Accident indicators, such as airbag deployments
State emissions inspection results
Vehicle use (taxi, rental, lease, etc.)”
In real estate, the issues above are already an unmitigated disaster in America, and we are now learning more. For the sake of getting too in-depth and possibly off course, we’re focusing on the topic of SALVAGE TITLE.
Real estate does not necessarily have a “CarFax” report, whereas prospective buyers and even recording officers (county recording departments and county law clerks for example) have to rely on stated information pursuant to their own state or local codes. Some information can be available at building departments, but that information is not easily accessible the way CarFax obtains information.
The most common problem with real estate today, coming from a former banker (me), is salvage title on real estate.
According to salvage title expert Keith Griffin, in his book, Understanding Used Car Salvage Titles:”
In the United States, a salvage title is a form of vehicle title branding, which notes that the vehicle has been severely damaged and/or deemed a total loss by an insurance company that paid a claim on it. The criteria for determining when a salvage title is issued differ considerably by state. In a minority of states, regulations require a salvage title for stolen vehicles
CarFax also does their own explanation of salvage title.
They explain a common type of Salvage Title Fraud for vehicles:
A common scam associated with salvaged vehicles is title washing. In title washing, a seller moves a vehicle to a state that has looser title laws and then registers the vehicle in that state.
Real estate title fraud, if you will, is much worse, mainly because of FDIC-member banks’ fraud. One of the most common problems is a racketeering-influenced drone (aka corporation) called Mortgage Electronic Registration System (MERS). MERS helps banks hide much title fraud, and of course MERS helps banks hide from dealing with mandatory court recordings and county recordings, which of course helps them save money on filing fees and aids in hiding fraud. (Allow me to briefly interject here to say, as a former insider at banks, that thug banks also use MERS to commit various types of fraud in or through origination and servicing of loans.)
Along with the banks committing their fraud through the pimp, MERS, of straw buying, there is the common fraud of:
false notarizing of assignments
fraudulent foreclosures with fake witnesses, false documents, forgery, tampering with documents, and so much more
false statements made in recording departments by banks and/or their representatives
This all causes serious problems with chain of title because the very fraud makes all future transaction void ab initio.
Void ab initio: Void from the beginning, not just merely void.
This may sound like legal jargon; I am certainly not an attorney. (No bar would like me to even be considered a member of them, for which I praise them.)
False sales of notes with attached mortgages on title have clouded title in a nasty way all throughout America. Thug banks are not properly transferring alleged ownership of mortgages in nearly all cases of either the sale of a note through a simple purchase of it for transfer or acquisition of it through a merger/acquisition of a company also known as ISAOA.
In the revelation of a massive foreclosure fraud scandal in Nevada (and it is happening in every state in the country), whereby an actual indictment was filed against supervisors for commanding certain employees to commit crimes such as notary fraud, forgery, and other issues involved in tampering; the Attorney General has said many foreclosures could be reversed with the titles of real estate where crimes were committed. In other words, if the documents were filed fraudulently, then the document does not exist and must be correct. Soon we shall summon REBUILT TITLE, which is common in the auto industry to correct title problems of alleged theft or insurance issues.
Anytime there is fraud involving anything related to a mortgage, the entire title history from the point of the fraud is called into qquestion.
Title is junk when there are such serious questions about title for automobiles. How do you know the vehicle was not stolen? How do you know the vehicle was not considered a total loss because of a bad accident? How do you know a house was not stolen? How do you know a house was not stolen by a bank that filed false documents with a court to get their desired judgment, then their sale, and then their eviction, which caused the sheriff to wrongfully essentially seize the property. How many sheriffs have reviewed documents to verify signatures and verify documents matched? Any false statement made by somebody in an action that caused a transfer of title then clouds the title.
Real estate is loaded with salvage title because of false statements made by mortgage holders. It can only be corrected by the mortgage holder correcting their statements by confessing that they lied and giving back what they stole in their deception.
About Jason Werner
Jason Werner is a whistleblower; he convicts himself by saying he “ignorantly aided and abetted bank executives in their ponzi schemes by working for them.” He has worked at lower levels of banks throughout college (graduated Cleveland State University, 2003) and following, with operations on both the lending and investment sides. He has been involved in lawsuits with banks. He is also a former candidate for Congress.
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“The wicked flee when no man pursueth: but the righteous are bold as a lion.”