Personal commitments have forced me to take the day off from the show this week, but I’ll be back next week.
I have learned of a court proceeding in which the Judge expressed the opinion that in order for any of the mortgages to be valid (where MERS is involved) they would have to redraft the mortgage without MERS and get the borrower to sign a new one. Exactly what I said in 2007. Only now we have over 7 million illegal foreclosures based upon fraudulent and illegal mortgages and notes. MERS’ attorney estimated that the total number of mortgages affected could be 100 million. The Judge basically said it wasn’t his problem — it was the problem of the banks and MERS who devastated title records.
The question asked in Arizona Federal Court: Is there any case or statute under which MERS could be beneficiary of a deed of trust? The answer is no. Thus they cannot be the beneficiary, even for one second. Their title as “nominee” is as good as saying Donald Duck is the lender. MERS and Donald share something: they are both fictional characters.
Filed under: foreclosure