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The Business of Real Estate

Do you know who owns your mortgage?


Property rights in the United States depend on routine and reliable recording of all related documents — deeds and liens — and easy public access to those records.  County recording offices have traditionally been where such “public notices” are readily available.

A company that has been tracking ownership of mortgage loans for almost twenty years is an important reason for questions about whether the current system of keeping up with many mortgage loans properly meets that standard and tradtion:

County clerks warn that private home loan registry may cloud titles to thousands of Central Texas homes

This relates directly to much of the turmoil in the mortgage foreclosure crisis over the past year or more — lawsuits in which it was found that lenders taking properties through foreclosure could not produce properly recorded evidence that they actually owned the liens involved.  Without that evidence, it has been found in some cases that those lenders did not have the right to foreclose at all.

This is more than just interesting, and it is by no means unique to Central Texas.  This “public notice” requirement is vital to confidence in private property rights, a foundational principal and a huge part of what makes the United States the United States.

I always welcome comments on my blog, but I especially invite them on this post.  In particular, if you work in the mortgage industry or the title insurance industry, please share your thoughts here.

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About Bill Morris, Realtor

More than thirty years of business experience (high tech, client service, business organization and start-up, including many years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs: -- Seller Representation is a comprehensive process that begins with thorough market analysis and consultation, continues with properly staging the home to achieve the highest price possible in a reasonable time on market, a complete program of marketing and promotion, ongoing updates and communication, closing coordination, and follow-up throughout (and after) the sale. -- Buyer Representation is also full service: shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.

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