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Peter J Pike

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"As a real estate attorney, and title company employee, I have to agree with the comments made about MERS. It needs to be shut down, and now. Our county clerks' records should be sacred to all of us involved in real estate. MERS has taken these records and made them meaningless. It is next to impossible to determine who the true holder of the mortgage is any longer. You cannot trust the public records, nor MERS' own database (after all, it is voluntary). The people who can stay in their homes..."    View Comment
"I have just finished reading the entire thread of comments too. I agree with Frank that the industry needs to get more education to the consumer, however, you are trying to educate a consumer that 1. does not want to be educated and 2. probably cannot comprehend the actual meaning of most products. (Note to Show Rates, I'm using multiple paragraphs) This is why government regulation is necessary and why an agency like the CFPB and someone to head it like Elizabeth Warren is necessary. Yes, it..."    View Comment
"Max - while you are correct that Redhonebee owes the money and should lose her house, you are totally wrong in your assessments. As an attorney who has been in the trenches the last 3 years on this issue, I can tell you that I have yet to see or hear of anyone going through the modification or short sale process without huge problems. "Lost" documents, payments, payment histories, etc. Furthering this, as an employee of a title company, I am outraged that any judge is allowing anyone to..."    View Comment
"The idea of an indemnity raises numerous issues, under RESPA and here in Florida, under state law. In Florida, title insurers are not allowed to underwrite a casualty loss, nor to omit known underwriting issues, unless such issue may be specifically insured via a limited number of endorsements to the general policy. To my knowledge, there is no such endorsement available, when a title insurer knows of a problem in a foreclosure lawsuit that may call into question the ultimate ownership of the property..."    View Comment
"The problem with the foreclosure mess cannot be cleared up with the simplistic thought of "they did not pay, they do not stay". Our country is somewhat unique in the world, in that our system of registration of ownership of real estate is open and well maintained. Real property cannot be moved (it is not the dirt, it is the physical space on the planet). Because of our system of land registration, it is a relatively simple process to determine who truly owns the land, and who can truly..."    View Comment
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