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Red tape to the MAX!
A New Orleans
lawyer sought an FHA loan for a client. He was told the
loan would be granted if he could prove satisfactory title to a parcel
of property being offered as collateral. The title to the property
dated back to 1803, which took the lawyer 3 months to track down. After
sending the information to the FHA, he received the following reply ...
(actual letter):
"Upon review of your letter adjoining your client's loan application, we
note that the request is supported by an Abstract of Title. While we
compliment the able manner in which you have prepared and presented an
application, we must point out that you have only cleared title to the
proposed collateral property back to 1803. Before final approval can be
accorded, it will be necessary to clear title back to its origin."
Annoyed, the lawyer responded as follows (actual letter):
"Your letter regarding title in Case 189156 has been received. I note
that you wish to have title extended further than in the years covered
by the present application. I was unaware that any educated person in
this country, particularly those working in the property area, would not
know that Louisiana
was purchased by the U.S. from France in 1803, the
year of origin identified in our application.
For the edification of uninformed FHA bureaucrats, the title to land
prior to U.S.
ownership was obtained from France, which had acquired it
by Right of Conquest from Spain. The land came into possession of
Spain
by Right of Discovery made in the year 1492 by a sea captain named
Christopher Columbus, who had been granted the privilege of seeking a
new route to India
by the reigning monarch, Isabella. The good queen,
being a pious woman and careful about titles, almost as much as the
FHA, took the precaution of securing the blessing of the Pope before
she sold her jewels to fund
Columbus'
expedition.
Now the Pope, as I'm sure you know, is the emissary of Jesus Christ,
the Son of God. And God, it is commonly accepted, created this world.
Therefore, I believe it is safe to presume that He also made that part
of the world called
Louisiana.
He, therefore, would be the owner of
origin. I hope to heavens you find His original claim to be satisfactory.
Now, may we have our loan?"
They got it!
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