Posts: 548
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Joined: Jun 2005
It means MERS information can not be relied on for accuracy.
Did you get a lien release from the first bank in their name? Probably not because they can't. How can they release something they never actually held? When it says MERS, its all just floating out there, bouncing around, sold here and there, sliced and diced...no one knows who owns what, including us!
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Yes my lawyer, who is also a real estate lawyer, went over my mortgage and note with a fine tooth comb. I signed all the papers and acknowledged that MERS was an intermediary as well.
I signed or rather my husband and I signed the papers, we have the copies with our signatures and initials and BOA has this information online in my account when I go in to look. I have a Fannie MAE loan, serviced by BOA.
I know that a lot of people are hoping this MERS thing helps them in the long run, but I signed my papers and fully acknowledge that I owe this money to Fannie MAE as the backer and that I have a bank that services my loan.
Whatever comes of MERS I do not any longer want my home due to the fact I am not able to pay the mortgage any longer and I WANT them to take my home.
I have been in bankruptcy H*ll for over six months, I do not want to fight any one else any longer, I want to move on and start my life again.
I wish you the best in your fight, but I do not want any part of it. I am sure this will be ongoing for many, many years before it all gets sorted out. Life goes on and I am moving with it.
Posts: 2,314
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Joined: Jun 2003
quote:
Originally posted by Nancy Fryhover
Banks don't like judicial states because they have to show proof of ownership...but not in non-judicial...that needs to change.
Nancy, that is totally false. Judicial foreclosures cost much more money to the banks than the non-judicial, it has nothing to do with proof of ownership.
Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
888.819.9669
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
(This is what I think of the Kona Board of Realtors
http://KonaBoardOfRealtors.info)
Posts: 5,053
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For the other side of the story you might want to read this
http://www.mortgagenewsdaily.com/channel...64078.aspx
Posts: 2,314
Threads: 59
Joined: Jun 2003
quote:
Originally posted by Obie
For the other side of the story you might want to read this
http://www.mortgagenewsdaily.com/channel...64078.aspx
It seems I have said the same things all along, except that I have used much less words
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Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
888.819.9669
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
(This is what I think of the Kona Board of Realtors
http://KonaBoardOfRealtors.info)
Posts: 548
Threads: 114
Joined: Jun 2005
I do disagree and am convinced MERS is total fraud, but I am not one to get into arguments so my opinion stands. I guess history will determine who is right in this. Aloha!
Ok, my very last link on the subject, I PROMISE...AND DON'T SAY I DIDN'T WARN EVERYONE!
http://www.huffingtonpost.com/l-randall-...view=print
