The lawyer and the loan
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February 25, 2018
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 three 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,...
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