This effectively puts a stop to ALL illegal foreclosures. No proper documentation? Forget it.
Get your shovels for the banks….
The bottom line is this: Either the original issue of that mortgage and its subsequent securitization went through all previously-required assignments and you can prove it or your ability to convey a title via Trustee Sale is gone.
Awwww those poor widdle banksters that cheated on the rules…. looks like Arizona has had enough of their games and is going to body-slam them all in favor of their citizens. BRAVO!
Now to get this introduced and passed in all 50 states….. a refreshing instance of legislation that actually both defends property rights and fits on one page! The result:
THIRD READ: | DATE | AYES | NAYS | NV | EXC | EMER | AMEND | RFE | 2/3 VOTE | RESULT |
| 02/22/11 | 28 | 2 | 0 | 0 |
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| PASSED |
TRANSMIT TO HOUSE: | 02/22/11 |
On the way to the House….. 
Put a fork in ‘em – they’re DONE! |
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