Foreclosures Called Into Question by MERS Ruling; Thousands of Cases Could Be Affected

“The court is saying that anybody other than the note holder cannot foreclose, she says. And that applies, too, to so-called “servicers”–usually banks that collect mortgage payments on behalf of the note holders, and often handle foreclosures too.”

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Foreclosures Called Into Question by MERS Ruling; Thousands of Cases Could Be Affected

The state Supreme Court yesterday called into question numerous foreclosures that have been done in this state, and opened the door for lawsuits by homeowners given the boot. Just how many foreclosures are we talking about? “Hundreds if not thousands,” says Melissa Huelsman, a lawyer representing one of the plaintiffs in the case.

The case concerns that nebulous entity, the Mortgage Electronic Registration System, known more commonly as MERS. The Virginia-based company became the Big Brother of the mortgage world. It was everywhere, yet few people knew exactly who was behind it or how it operated.

What is known is that the company started as a way for lenders to get around costly and time-consuming local deed recording procedures. MERS, acting on behalf of lenders, instead registered deeds electronically instead through a centralized system. But MERS’ involvement didn’t stop there. Somehow, the company also came to be listed as the “beneficiary” of deeds in many states, including Washington. And when it came time to foreclose, MERS often initiated the action.

As the court opined yesterday, this hand-off to MERS “has caused great concern about possible errors in foreclosures, misrepresentation, and fraud. Under the MERS system, questions of authority and accountability arise, and determining who has authority to negotiate loan modifications and who is accountable for misrepresentation and fraud becomes extraordinarily difficult.”

Rest here…

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4closureFraud.org

Comments
8 Responses to “Foreclosures Called Into Question by MERS Ruling; Thousands of Cases Could Be Affected”
  1. In the case of my own (long-ago foreclosed) house, I found at least two instances where the records of MERS indicated a different note holder than the one on whose behalf a mortgage was eventually satisfied. Does this mean that the mortgages were never properly satisfied? Is the present owner of the house stuck with an even dirtier title than the foreclosure created?

    This problem goes way beyond foreclosures; it mangles the integrity of the land recording system beyond recognition.

    • chitown2020 says:

      Make no mistake, fraudclosures are part of the ongoing bailout of the TBTF for massive fraud committed by them allowed by the politicians. It is fascism being committed against the American people to install complete communism. I would not allow them to get away with stealing your property. That was unjust enrichment for these crooks. I would sue them.

  2. Wayne says:

    What does that have anything to do with the Corrupt State of Arizona

  3. JR says:

    which state court made this ruling?

  4. L Gore says:

    All banking is fraud. Find the works of Tom Schauf Vol. 1 and Vol. 2. and educate yourself, you’ve been lied to about everything.

    Best,
    L Gore

    • BobSublime says:

      Thank you L. Gore!
      I am now reading Vol I and it speaks of the same message that was revealed in the book “The Creature From Jekyll Island,” by G. Edward Griffin. Schauf says it a little differently, but the message is the very same: that the Federal Reserve is a fraudulent enterprise that creates money out of nothing and loans it to us at interest. The federal Reserve is not federal and has no reserves. It is wholly owned by the World’s banking families; the Rothschilds, the Rockefellers and the Morgans, and others. The banking system we have in the U.S. today is fraudulent and needs to be changed. We have been defrauded for a century.
      Thanks for your reference. I am looking forward to finding out how to “cancel bank loans without going to court.”
      Best Regards,
      Bob

  5. Joi says:

    That you JESUS,,,,GOD is marvelous in his works. They can run but eventually and surely going to fall….

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