AZ Rep. Seel Drops Amendment Requiring Pre-Foreclosure Chain of Title, 2 Days After Servicer Grants Principal Reduction

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AZ Rep. Seel Drops Amendment Requiring Pre-Foreclosure Chain of Title, 2 Days After Servicer Grants Principal Reduction

AZ Rep. Seel Drops Amendment Requiring Pre-Foreclosure Chain of Title, 2 Days After Servicer Grants Principal Reduction

Another Exclusive from Mandelman

Remember Arizona’s Senate Bill 1259 that would have required servicers to produce a declaration that they had the proper chain of title prior to foreclosing on someone’s home?  You know… the one that passed the Arizona Senate 28-2 that I wrote about back on February 23rd of this year?

Remember maybe a month ago when I tried to follow up to see how the bill was proceeding in the Arizona House of Representatives… only to find out that on the way to the House… it disappeared… the text replaced by some bill about firefighting with the same number?  And no one was saying a word about it?  If you missed it, I wrote about it here.

Okay, well… it appears that the story is not over yet.



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One Response to “AZ Rep. Seel Drops Amendment Requiring Pre-Foreclosure Chain of Title, 2 Days After Servicer Grants Principal Reduction”

  1. John Anderson says:

    Hey just because this guy changed his thinking, after concluding his business with his mortgage servicer, doesn’t mean he did anything wrong. I bet this was just a threat that he used to get some leverage with the servicer/pretender lender, and he wasn’t serious about introducing the bill anyway. Public don’t want to hear about people getting “FREE HOUSES” and it would have hurt his chances of being reelected. And on the moral side it did, for a while give hope to those who losing a home for lack of getting a modification, or being steamrolled at rocket docket courts. It shows everyone that in order to be worthy of consideration of a rate reduction modification, you must have power of threat, like this hip representative. His was the introduction of a bill that may have passed and cause great expense, and the possibility of many homeowners receiving a ruling that the law already calls for.
    In my case i have threatened that if my 50% mortgage reduction and a fixed rate of 2.o3% over thirty years is not approved I will carry out my threat of pouring gasoline over my nuts and setting them on fire, being live streamed on YOU/TUBE. Can you imagine the public outrage?
    At this stage, this is just a threat. I do hope my story ends like this fellow.

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