Bankruptcy Court Ruling Upsets National Mortgage Servicer - Loan Modification Forum

Social Apocalypse · 10-02-2009, 08:04 AM

I found this COOL blog posting dated July 13th, 2009
(I linked to the original posting)

(In Nevada)
U.S. Bankruptcy Court Judge Linda Riegle ruled earlier this year that, unless it could produce the actual loan note, the Mortgage Electronic Registration Systems (MERS) couldn’t represent loan companies attempting to foreclosure on homeowners in default who were already in bankruptcy.

Lenders notoriously sell their loans to other lenders. Often the note will go through several owners. With this process, producing loan documents becomes a much more challenging task.

read the whole blog:
Bankruptcy Court Ruling Upsets National Mortgage Servicer | A Bird's Eye View

Evan Bedard · 10-02-2009, 11:34 AM

Thank you for sharing this article!

10-02-2009, 08:04 AM	#1 (permalink)
Social Apocalypse Senior Member Join Date: Mar 2009 Location: Washington State Posts: 269 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Bankruptcy Court Ruling Upsets National Mortgage Servicer I found this COOL blog posting dated July 13th, 2009 (I linked to the original posting) (In Nevada) U.S. Bankruptcy Court Judge Linda Riegle ruled earlier this year that, unless it could produce the actual loan note, the Mortgage Electronic Registration Systems (MERS) couldn’t represent loan companies attempting to foreclosure on homeowners in default who were already in bankruptcy. Lenders notoriously sell their loans to other lenders. Often the note will go through several owners. With this process, producing loan documents becomes a much more challenging task. read the whole blog: Bankruptcy Court Ruling Upsets National Mortgage Servicer \| A Bird's Eye View __________________ (formerly TB98629) *Moe Bedard is going to save this country!* URGENT! PLEASE TAKE A MOMENT AND SIGN OUR PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS: CLICK HERE Representing Washington State, and Never Giving Up Follow Me On Twitter @SocialApocalyps

10-02-2009, 11:34 AM	#2 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Bankruptcy Court Ruling Upsets National Mortgage Servicer Thank you for sharing this article! __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

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