COUNTY RECORDERS MULL MERS PLAN WITH LUMINAQ-LIVINGLIES TO RECOVER LOST REVENUE

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary

COUNTY RECORDERS TO IMPOSE FEES AND FINES FOR FAILURE TO RECORD

AUTHORIZED COUNTY GOVERNMENT OFFICIALS:

EMAIL YOUR NAME TO

LUMINAQ.COUNTYRECORDERS@GMAIL.COM

YOUR TITLE

YOUR TELEPHONE NUMBER

YOUR EMAIL TO WHICH YOU WANT THE TELECONFERENCE INVITATION SENT

BILLIONS OF DOLLARS TARGET FOR RECOVERY TO COUNTY REVENUE: We have had several discussions with the County recorder in many states wherein a plan has emerged, with our help, to recover recording fees, documentary stamps, fines, penalties and damages from parties filing foreclosure actions under “cover” of supposed securitization.

The emerging plan takes each foreclosure action and computes the number of intermediaries that were the alleged recipients of an interest in the mortgage or deed of trust and than computes the recording fees and other costs that should have been paid in those transactions. The plan only applies to those cases where the property is in foreclosure proceedings, and is being examined by both judicial and non-judicial state recording offices.

LUMINAQ WWW.LUMINAQ.COM is the new site for the Livinglies store. ProTitleUSA, a partner in LUMINAQ, recently completed a massive project for the FDIC involving thousands of homes. LUMINAQ will provide a tailored COMBO title and securitization report that provides the necessary documentation to support the County Recorder’s claim. A tailored loan level accounting report will assess the fees, costs and penalties.

For those properties currently in foreclosure, clear title cannot be obtained by the bidder or any subsequent holder without proof of payment of the outstanding amounts due. While the foreclosing parties might resist the imposition of these costs, the resistance is likely to be tepid at best, because of the delays in completing the foreclosure and the ability to pass on the costs in the computing the bid for the property at sale. Local rules provide the enforcement mechanism.

For those properties which have already been subject to a foreclosure sale, clear title cannot be obtained by a subsequent buyer without payment of the outstanding amounts due.

LUMINAQ WILL PROCESS THE DATA, BUT ALL MONEY WILL BE PAID DIRECTLY TO THE COUNTY RECORDER’S OFFICE. THE AMOUNT TO BE RECOVERED IS ESTIMATED TO BE IN EXCESS OF $60 BILLION.

With Wisconsin and other states going  into gridlock and turmoil over budget disputes, it is projected that the recovery will significantly ease the budget short-falls on the local level. On State levels, Attorney Generals and Treasurers are taking a sharp look at their tax codes and considering similar plans for the recovery of even more money for unpaid income taxes, intangible taxes, registration fees, penalties, fines and other costs.

A SECURE CONFERENCE CALL WILL BE CONDUCTED IN WHICH AUTHORIZED REPRESENTATIVES OF COUNTY GOVERNMENTS WILL BE ABLE TO PARTICIPATE WITHOUT COST TO GET DETAILS OF THE PLAN AND HOW TO PARTICIPANT.

AUTHORIZED COUNTY GOVERNMENT OFFICIALS (LIMIT 2 PER COUNTY)

EMAIL YOUR NAME TO

LUMINAQ.COUNTYRECORDERS@GMAIL.COM

YOUR TITLE

YOUR TELEPHONE NUMBER

YOUR EMAIL TO WHICH YOU WANT THE TELECONFERENCE INVITATION SENT

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