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Mers--now a recognized flaw in the mortgage meltdown
The nations' courts, at least two state courts and one federal district court have recently rejected the notion that countless buyers/sellers of mortgages to and including the current mortgage holder can hide behind the scheme they devised in the past. These mortgage holders and their assigning parties who became registered with MERS and therefore failed to record their transactions pertaining to individual nortgages will likely be prohibited to bring foreclosure actions as the nominee of "a mortgage holder" who they may not even be able to identify, let alone locate the promissory note and deed of trust/mortgage they are relying to support their claim. Some authorities are questioning whether they even have the right without producing their error and violation ridden promissory notes and mortgages to modify and agree to loan modifications.
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Coming Soon, a Revolutionary Way to Buy Short Sale Properties Without Waiting Months for the Approval Letter from the Bank and NO SEASONING ISSUES!
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