Don't depend on title insurance to pull your chestnuts out of the fire- most policies have an exclusion for any irregularities or mistakes in the foreclosure process. To do you any good, you have to get the preliminary commitment before the foreclosure sale- and even if they did not have the exclusion, title company would automatically be exempt from any liability that occurred after the date and time of the commitment (ie, the actual sale itself).
Not likely the buyer at foreclosure sale would lose the place- he is a "bona fide purchaser" (BFP)- a purchaser for value without notice of defect. The property would no longer be an issue- it would be a money damages issue between the lender and it's former customer, and court would have to sort out who was in the wrong, or allocate between the two.
The issue is spreading- local judge just enjoined a foreclosure sale, pending resolution of the MERS issue. Too lengthy to go into here- google MERS for some interesting reading, if you're so inclined.
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Today's Featured Article - Upgrading an Oliver Super 55 Electrical System - by Dennis Hawkins. My old Oliver Super 55 has been just sitting and rusting for several years now. I really hate to see a good tractor being treated that way, but not being able to start it without a 30 minute point filing ritual every time contributed to its demise. If it would just start when I turn the key, then I would use it more often. In addition to a bad case of old age, most of the tractor's original electrical system was simply too unreliable to keep. The main focus of this page is to show how I upgr
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