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[...] my caller’s case, MERS foreclosed, the homeowners left and bought a new house, the redemption period expired, [...]
[...] title, it is, as they say in the title business, “clouded.”In my caller’s case, MERS foreclosed, the homeowners left and bought a new house, the redemption period expired, the bank [...]
So what does this mean for homes that are in the process of being sold? I have a purchase agreement with Fannie Mae for a home that was apparently one of these affected by this decision (with a tentative schedule to close at the end of this week.) Will this delay closing on my new home for a substantial period of time?
We have purchase agreement on aCondo in Southfield Mi could not close due to Mers
There should be a remedy for that, if you want to email me.
I own (I guess) a home that was forclosed on by MERS. After a few years I was selling the home. Right before the closing I was told the home could not be sold because I truly didn’t hold the deed. I understand that the supreme court was suppose to decide if they were going to here the case and uphold the desion reached by the appeal courts…when is this suppose to happen, and what do I do to resolve this issue> Not only have the forclosed people have been damaged by this desion, but also the people who have bought these homes..
They must not have been reading my blogs!
One more casualty of the foreclosure fraud mess. I hope it works out, let me know.
Wondering if there has been any updates for MERS title issues in MI?
We were 11 days from closing with Freddie Mac (Home Steps)- home inspection, appraisal, insurance – all paid for and a clear to close, just waiting on title work!
The house was pulled off the market, and we were sent back our deposit – but refused to sign the release form. We wanted to have first rights if it went back on market- we were told some of these homes may be going back up for sale in September.
I have called Freddie Mac every week to for an update and all they say is the asset has been pulled, but they have no other information.
We really want this house, paid almost full asking price, 30% down, conventional. I have looked at at least 40 more homes, but this one seems to fit all the needs due to us having a handicap family member living with us. If it ever went back up we would be ready to go!
But now nobody can tell me anything.
My understanding is that MERS case is still on appeal to the State Supreme Court, no telling when a final ruling will come.
I can review your documents, just sent a letter for a client in similar circumstances, demanding that they set up a closing.
Now, he has a quit claim deed from the prior owner, which clears up the title.
I am guessing that is the problem in your case, but contact me at my email or phone # if you want to pursue the matter.
My husband and I stopped paying our mortgage this past March (selective default). In Sept. 2007 we re-financed through Citizen’s Bank which has a very clear section in the security instrument about MERS and their authority. No sooner did we close when we received notice the loan was now owned by J.P.Morgan Chase, which is where we mailed our first payment. My question is: since Chase now owned the mortgage, and hubby and I didn’t sign new papers, is Citizen’s security instrument still in effect? Second question: 11/10 we (stupidly) re-financed with Chase (supposedly for HAMP – or was it HARP? – which didn’t happen) , so a new S.I. is in place ( with fraud written all over it). Aren’t all mortgages registered with MERS? There is no Section mentioning MERS.
One more question. – and I’ll try to be brief. If a mortgage is securitized it’s my understanding there is no single mortgagee because the loan has been sold as a stock to many investors. How do I find out if my brand new Chase loan has been securitized?
I think you mean “strategic default.”
the mortgage note was assigned, does not affect the validity of the security interest
Fraud? better to contact me at my email address on that
no, all mortgages are NOT registered with MERS, it is a private co.
mortgage notes get securitized, does not mean it is not a single mortgage.
outside of a court, not sure you can force them to disclose the securitization trail
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Copyright © 2017 Kurt O’Keefe, Esq. | Detroit MI | Michigan Mortgage Attorney