04.15.08
Posted in Education, Real Estate fun at 9:16 pm by Jeanne
Life can be funny sometimes. I read lots of articles every day about education, brainpower, how people learn. And I read about what is new in real estate, title insurance, the law, etc. Anyone who knows me, knows how I believe you can NEVER learn enough, and you can only get ahead by putting out the energy to constantly learn what is new. Here is A Great Article on the Importance of Education that proves the point.
Related to that, I also read today, an article that shows MPLS/ St.Paul ranks 7th in metro brain power in the U.S. from BizJournals Well, being from Minnesota, I thought that must mean me until I took this very short and very simple test. It took me WAY TOO LONG to get these right. I was incredulous that I could not get something so simple right. Guess I am not so smart afterall. ;/
Try it - how did YOU do?
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02.29.08
Posted in Real Estate fun, Value of a title searcher at 12:06 pm by Jeanne
A serious discussion needs to take place as to the future of the industry. But what about today? What do we do?
I was in a smaller population county in Nebraska yesterday (2-20-08). County seat, Wilber, population 287. I was in the Register of Deeds office. It was a welcome step back in time. There were no guards, or metal detection devices scanning me as I walked into the Courthouse. I was doing local research. I walked in, said I was a certifed abstractor and would like to look at some titles. The Assistant Co Recorder showed me into the record room. I asked if the books were grantor-ee or set up by Sec-Twp-Rge. They acknowledged the tract index books. I pulled the appropriate tract index, and within a few minutes had all of the documents that I was looking for on hundreds of acres and millions of dollars of property. The books are the traditional, individually typed index pages. Older pages were encased in plastic covers to protect them. Photocopies of original documents were well organized and maintained. They explained there was an off-site duplicate copy in case of disaster. Exactly what you would hope for from your local county recoder.
Then on to the Court Records. I looked up the Last Will and Testament and was able to determine 4 generations of owners with the same first and last names, but different middle initials. Great-grandfather, passed onto sons and grandsons, etc, all with variations of a name. Cleared up all those various different wives names in the chain of title. It was quite a trip.
This County has no real estate records online. This County has no real estate records even on computer. And abstracts, I was told, “hardly exist any more in this county. Title insurance has taken over. To do title work, the local abstract company has a part time employee who goes to various Courthouses to pull the documents.” The county employees were very knowledgeable and very helpful. They knew the family and a bit of the history. It was like going home, in a way. They even called ahead and told us the best place to eat lunch. The Wilber Hotel is a great place to eat.
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02.26.08
Posted in Real Estate fun at 12:16 pm by Jeanne
A lady died this past January, and Citibank has billed her for February and March for the annual service charges on her credit card. They then added late fees and interest on the monthly charge. The balance had been $0.00, now somewhere around $60.00. A family member placed a call to Citibank. Here is the exchange:
Family Member: “I am calling to tell you Aunt XXX died in
January.”
Citibank: “The account was never closed and the late fees and charges still apply.”
Family Member: “Maybe, you should turn it over to collections.”
Citibank: “Since it is two months past due , it already has been.”
Family Member: So, what will they do when they find out she is dead?”
Citibank: “Either report her account to frauds division or report her to the credit bureau, maybe both!”
Family Member: “Do you think God will be mad at her?” (I really liked this part!!!!)
Citibank: “Excuse me?”
Family Member: “Did you just get what I was telling you - the part about her being dead?”
Citibank: “Sir, you’ll have to speak to my supervisor.” (Duh!)
Supervisor gets on the phone:
Family Member: “I’m calling to tell you, she died in January.”
Citibank : “The account was never closed and late fees and charges still apply.” (This must be a standard phrase assigned by the bank!)
Family Member: “You mean you want to collect from her estate?”
Citibank: (Stammer) “Are you her lawyer?”
Family Member: “No, I’m her great nephew.” (Lawyer info given)
Citibank: “Could you fax us a certificate of death?”
Family Member: “Sure.” (Fax number is given )
After they receive the fax:
Citibank: “Our system just isn’t setup for death. I just don’t know
what more I can do to help you.”
Family Member: “Well, if you figure it out, great! If not, you could
just keep billing her. I don’t think she will care.”
Citibank: “Well, the late fees and charges do still apply.”(What is wrong with these people?!?)
Family Member: “Would you like her new billing address?”
Citibank : “That might help.”
Family Member: ” Odessa Memorial Cemetery , Highway 129, Plot Number 69.”
&nb sp;
Citibank: “But, Sir, that’s a cemetery!”
Family Member: “Yes - Well what do you think we do with dead people on this planet???”
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01.04.08
Posted in Money and Finance, Mortgage and title Fraud, Real Estate fun, Value of a title searcher at 2:42 pm by Jeanne
Ten years ago, who would have believed the sleepy little Title Insurance business could be the subject of an amazing true crime book. Yes, we’re all reminded daily of the problems in our industry: greed, fraud, forgery, gluttony, sub-prime lending, phoney appraisals and more, but now here’s a real life tell-all.
A Family Cursed: The Kissel Dynasty, a Gilded Fortune and Two Brutal Murders uncovers classic Title Mafioso. The author, Kevin McMurray covers the life of two wheeling-dealing brothers. Andrew Kissel was convicted of forging mortgage deed releases and other fake documents to subvert millions in order to live an excessive lifestyle.
But Fidelity National Title recognized Kissel’s mortgage scam. By searching title to property, Fidelity found several active mortgages on property being used as collateral to secure a $6 million mortgage loan. Kissel gave Fidelity falsified mortgage releases to show the loans were paid off. Creating the bogus documents was as easy as the click of a mouse, McMurray accurately writes. Had it not been for a thorough Title Underwriter (You’ll have to read the book to find out how they figured it out) Kissel would probably still be perpetrating his real estate fraud. He was charged with federal bank fraud obtaining tens of millions in fraudulent loans from banks and other institutions.
I am an avid reader of mysteries, etc. but this one really hits home not because it’s just plausible, but because it happened and continues to happen every day.
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12.20.07
Posted in Education, Real Estate fun at 5:21 pm by Jeanne
I was delayed at the airport… again. I picked up a new book that remarkably turned out to be one of my favorite reads of all times. I am an avid reader - I read at least one book a week, and am always anxious to find something remarkable.
As a teacher of esoteric topics (such as “title exam,” “title searching,” “real estate 101″ - topics that can glaze over the eyes of almost any audience) I am always looking for ways to spice up topics and help people identify and remember important information. My husband jokes that I have read “How to remember what you always forget” at least a dozen times and it hasn’t helped.
But this time, I struck a Bonanza! “Made to Stick: Why some ideas Survive and others Die” is an amazing read. It is fun, witty, charming…memorable! It is USEFUL. For those who want to be remembered (in a good way) it gives concrete examples of what works and why. A must for those of us try- ing to survive in a tough business, It also explains why ideas fail - after all, how often have you seen a great commercial - but you can’t remember the product is was advertising.
I won’t spoil the plot. It’s great fun and it’s a must read!
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12.03.07
Posted in Real Estate fun at 4:17 pm by Jeanne
Antique Parchment Deed
I still have a very limited number of Antique Parchment English Deeds (Indentures) for sale. The original Documents, all from the 1800’s, measure about 28 by 20 inches. They are beautiful hand-written penned calligraphy on heavy parchment and make striking one of a kind gifts for framing for home or office.
The term Indenture goes back many centuries, and comes from the crease made in large legal documents when they were folded to fit into Document Boxes, which held a families important papers.
The documents are only $100 per page. Please contact me at LandRecs@aol.com for more information about specific documents. Happy Holidays!
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