IJMC Land Ho!

                              IJMC - Land Ho!

Maybe someone should have spent more time paying attention in history 
class, or maybe I should never work at the FHA myself...I wonder if the 
client ever got his loan?                                         -dave

  Get a load of this...

A New Orleans lawyer sought an FHA (Federal Housing Administration)
loan for a client.  He was told that the loan would be granted if he
could prove satisfactory title to property offered as collateral. 
The title dated back to 1803, and he had to spend three months 
running it down.

After sending the information to FHA, he got this reply: "We received
your letter today enclosing application for loan for your client,
supported by abstract of title.  Let us compliment you on the able
manner in which you prepared and presented the application. However,
you have not cleared the title before the year 1802, and therefore,
before final approval can be accorded the application, it will be
necessary that the title be cleared back of that year.

Annoyed, the lawyer replied: "Your letter regarding titles in
Case No. 189156 received.  I note that you wish titles extended  
further back than I have presented them.  I was unaware that any 
educated man in the world failed to know that Louisiana was 
purchased from France in 1803. The title to the land was acquired by
France by right of conquest from Spain.  The land came into 
possession of Spain by right of discovery made in 1492 by a sailor 
named Christopher Columbus, who had been granted the privilege of 
seeking a new route to India by the then reigning monarch,
Isabella. The good queen, being a pious woman and careful about  
titles, almost as much I might say, as the FHA, took the precaution of
securing the blessing of the Pope for the voyage before she sold her
jewels to help Columbus. Now the Pope, as you know, is the emissary
of Jesus Christ, the Son of God, and God, it is commonly accepted,
made the world.  Therefore, I believe it is safe to presume that
He also made that part of the world called Louisiana, and I hope
to hell you are satisfied."

IJMC February 1997 Archives