Interested In Placing An Initiative Petition On AZ Ballot Requiring Lenders To Record ALL Transfers or Assignments of The Deeds of Trusts and Notes?

Asked by Paul Papas, Phoenix, AZ Sat Jun 23, 2012

Failed bill on foreclosure filing in Colorado may get second chance on November ballot

Undaunted that legislators killed a bill requiring that lenders prove their right to foreclose on a home, backers of the failed proposal have filed it as a ballot initiative with a harder approach: Foreclosures can't happen unless all loan papers are properly recorded with the county first.

That means anytime a lender sells or transfers a note, as has been the practice for several years in the mortgage-backed securities business, the holder must file it with the county recorder of deeds.

Colorado has not required assignments — the legal word for when a mortgage or note exchanges hands — to be recorded for years, a critical part of the problem in determining who actually owns a note during a foreclosure, proponents of the initiative say.

Are you interested in placing a similar Initiative Petition on the AZ ballot to do the same

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Paul Papas, Other Pro, Phoenix, AZ
Sun Jun 24, 2012
I did find an article about the Colorado Initiative in the Denver Post. I thought it was such a great idea and wanted to see if there were people in AZ who would support a similar Initiative Petition in AZ for AZ. The big banks would oppose the Initiative Petition. AZ voters might like this method of sorting out the foreclosure mess. Many foreclosures were not properly handled and the banks don't want their failures addressed in Courts.

Read more: Failed bill on foreclosure filing in Colorado may get second chance on November ballot - The Denver Post…
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Fred Shocklie, Agent, Peoria, AZ
Sun Jun 24, 2012
Yes. Do you have a website set up for the Colorado Initiative that I can contact you through? My website is below.
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