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I feel the need to keep informing friends and family about this huge fraud brought on to us by the "Big Banks" and what is currently going on. Check with the hawaii county records to see if you have a "Mers" mortgage (mortgage electronic registration system) and if you bought a foreclosure, or were foreclosed on, it affects you also. Please read this article!
http://www.bloomberg.com/news/2011-02-14...-says.html
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Please keep it Hawaii related.
Assume the best and ask questions.
Punaweb moderator
Assume the best and ask questions.
Punaweb moderator
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Rob, you have known me for years. This is Hawaii related to anyone with a mortgage on a home in Hawaii. I am very concerned as should everyone else be in Hawaii and everywhere else. Mortgages are all unsecured under Mers according to this Federal Judge and the property laws of this country. This is not being addressed in the media but I don't know how much longer it is not addressed.
Again, I am just trying to inform my friends and family about what is going on that they are not aware of. I know that many will become aware of the problem when they try to sell and their buyer won't be able to obtain title insureance because of the break in title chain, but I would be remiss if I didn't speak up.
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quote:
Originally posted by Nancy Fryhover
I know that many will become aware of the problem when they try to sell and their buyer won't be able to obtain title insureance because of the break in title chain, but I would be remiss if I didn't speak up.
Nancy, you really are absessed with MERS, aren't you? Anyone with concerns can go to the MERS web site, type in their property address and it will tell you who is holding the mortgage and who is servicing the mortgage. It's a "problem" brought out by some people trying to challenge their foreclosures, it's not a "real" problem and that's why you don't read much about it. MERS doesn't affect the chain of title either.
Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
888.819.9669
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http://KonaBoardOfRealtors.info)
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Nancy, I am just asking you to deliver some Hawaii related clarity in the original post. That's all.
Assume the best and ask questions.
Punaweb moderator
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John, I disagree with you. Did you read the article?
Oh yes, Mers says Fanniemae owns my loan, Fanniemae says they don't.
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I live in the Puna area and have just been discharged from bankruptcy chapter 7, and am letting my home go as well. As far as I am concerned I wish you well in trying to inform everyone about this issue, but I sure as heck hope my home goes as fast as it can through foreclosure so I can get it off my back. I want to get my fresh start and move on, and this is the last thing that is holding me up.
Note as well that the Hawaii legislature is trying to hurry through a 5 month moratorium on non judicial foreclosures, leading up to new legislation for July that will require a one year moratorium. So if you are sitting on the other side of the fence just praying for relief, now you are left waiting even longer.
Two sides to the same issue, just depends where you fall in between. And yes we have MERS, but BOA is my servicer and has ALL my signed paperwork.
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quote:
Originally posted by Rob Tucker
Please keep it Hawaii related.
Assume the best and ask questions.
Punaweb moderator
It was on the KGMB news last night about Hawaii and the new state legislation trying to get past and they spoke about MERS. Does that help nancy's case a little?
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Clona, does your attorney understand the "Mers" situation? The notes are destroyed...no one can come forward showing ownership or legal right to foreclose! The banks did this to themselves, to commit fraud, thinking no one would notice. Thank goodness some Judges see it now and are upholding the law. Banks don't like judicial states because they have to show proof of ownership...but not in non-judicial...that needs to change. You might want to do some research on bankruptcy cases with mers involved. Just Google it.
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MERS says my mortgage in invested by and serviced by American Savings Banik. I am a Wels Fargo customer. So what does this mean? My construction loan was originally with Am Sav but I paid it off and redid a loan with Wells Fargo..
I want to be the kind of woman that, when my feet
hit the floor each morning, the devil says
"Oh Crap, She's up!"
I want to be the kind of woman that, when my feet
hit the floor each morning, the devil says
"Oh Crap, She's up!"
