MERS claims it is a mortgagee of record when named by a lender to be its nominee on the mortgage. A very important legal question now arises.
If the mortgage follows the note, and if MERS assigns the mortgage to a person who does not have possession of the note, then MERS separates the mortgage from the note.
Now if MERS never has an interest in the note which it claims on its web site, then how can it be a mortgagee of record? How can MERS have interest in the mortgage as nominee but it has no interest in the note?
Obviously, what we need are judges who will look at this, look at the orignal or copy of a note, and then rule that the only party of interest in the note is the one named on it. This means, he must dismiss the complaint with prejudice against the present plaintiff. The plaintiff can then sell the note and mortgage to someone else. And they can go back and try to perfect the chain of assignment from the original Lender to themselves, come back to court and go at it again with the defendants.
The defendants would be wise, to contact the original lender and get a notarized letter stating they have no interest in the mortgage or note that it had been sold off. Then file this in the public records at the court house. Then go file a quiet title before some other discount loan shark comes knocking to initiate another foreclosure.
Well, we gotta beat the racketeering mob of MERS and these banks somehow...
Lit Gant
Stop Foreclosure Fraud
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