Any Quiet Title Action stories out there?
I wrote a blog post recently on BP about a NPN with significant title issues. The NPN was a HELOC originated by a big bank in 2005. They never obtained or recorded reconveyances for the two loans (one from 1983 and one from 1997) that were refinanced. Their practice was also not to get title insurance, only do a title search.
This sloppiness left the NPN in limbo as it's difficult for big banks and big attorney firms to make decisions and execute documents correctly and efficiently. When we bought the loan, we cleared up the two previous liens, foreclosed, rehabbed, and sold the property within 9 months. It was quite an experience and I lay out all the details in the blog post.
I'm curious to learn from other people's title "nightmares" and how they successfully cured the issues, especially the ones that required a full QTA. Anyone willing to share?