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Loan Modification

: Mortgage Lender Implode-o-Meter

Richard (RJ) Eskow

By Implode-Explode Heavy Industries

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Very good, brief lay legal analysis of the problems with MERS.

Got that? "No interests are transferred," they're "just tracked." MERS "holds legal title," but "no interests are transferred." In other words, this virtual entity has all of the rights to act against homeowners, with none of the responsibility. The party facing you in a courtroom is not your legal adversary. They're only pretending to be.

Full post as published by Mortgage Lender Implode-o-Meter on October 25, 2010 (boomark / email).

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