Please take two minutes to email the Arizona Senate Banking and Insurance Committee members to show your support for SB 1259. It should not be easier to steal a house than to steal a car.
You might tell them:
- They should support the law because no honest foreclosing entity will fear certifying that they are authorized to foreclose by a clear chain of title
- Tell them a little bit about you, the constituent. You aren’t that “deadbeat” that the PR spinners have tried to portray.
- Tell them about the bank abuse that you have suffered (briefly)
- Stay clean in your language and you will be more likely to be listened to.
Here’s what one letter said:
I urge you to pass sb1259. Unethical bankers/title insurance agents are conveying properties every day in Arizona that have clouded titles. This bill is a great start to stop those practices. If these practices are allowed to continue–taxpayers will be on the hook for another “AIG”.
Title insurance companies are selling insurance with the promise of clear title–just as “AIG” sold credit default swaps with no intention of ever having to pay for the credit insurance they sold. We are now looking at the same situation with the title insurance companies….they are trying to collect as much money selling bad policies without the ability to pay back all the slandered titles.
This bill makes a foreclosing entity show that they are the proper party and can convey clean title. This information should be readily available and is aligned with hundreds of years of property law. Please do not let the current fraudulent practices continue.
Thanks and please pass this bill.