In a Trustee environment, all you need is certified mailing to the borrower as “being served”.. There is no court date, as nothing is determined in court, the Trustee is doing the foreclosure. However, some of the foreclosures were halted due to just the address that was used to send notice to the borrower. In other words, we had to start the process all over, file the NOD, wait 90 days, publish, then hold trustee sale.

So, if the judicial foreclosures are to be properly pursued by the beneficiary of the note, i.e. the original lender/MERS, there must be a clear line of “ownership”, just like in title issues on real property. Any “break” presents a “cloud” in the title of ownership. I think you really have something here, and there should be an investigation into how MERS was set up, and why all these companies are doing business for MERS. AND, where is MERS in this mess? What are they doing? Especially when mortgages were diced and sliced into little pieces.

Unfortunately, along with the borrowers that are suffering from unemployment, reset of adjustables, purchase/refi the result of a slimey mortgage broker, there are those that are strategic foreclosures. My house is underwater, but I was prepared for the payment, and will not give it up, even though I have lost 30% in value. If you are a strategic foreclosure, I really don’t have sympathy for you. It is like Wall Street, you took the chance, and now you have to live with it. I am.