Relevant:
- LANDMARK DECISION PROMISES MASSIVE RELIEF FOR HOMEOWNERS AND TROUBLE FOR BANKS
- Fixing the Mortgage Mess: The Game-changing Implications of Bain v. MERS
- Foreclosures Continue Decline but Inventory Clearing Slowly
- GSEs Redoing 1,250 MERS Foreclosures in Michigan
- Court Ruling Upholds Foreclosure Sale Despite MERS’ Appeal
2010-08-19 — stopforeclosurefraud.com
"Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the convenience of the mortgage industry. A California bankruptcy court, following landmark cases in other jurisdictions, recently held that this electronic shortcut makes it impossible for banks to establish their ownership of property titles—and therefore to foreclose on mortgaged properties. The logical result could be 62 million homes that are foreclosure-proof."
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