- Feb 4, 2009
OK I'm confused..(sorry) I got lost on this thread somewhere....Are we sending QWR?? What are we doing....sorry I'm a little retarded lately!!!
AMA,Not sure exactly where to post this article, but since this seems along these lines, I'll post it here: Title troubles leave some foreclosure sales in limbo - The Boston Globe
Yes, timing may be paramount.
I am thinking that if you all do this right, principle reductions and rock bottom interest rates. Mediation by force. They will have to settle on your terms.
No t free housing and mortgages, just fair housing and mortgages
You can look it up on the MERS site (however, this only tells you who services your loan but if it is listed here, then you know that MERS has been used to record activities related to your note being transferred): https://www.mers-servicerid.org/sis/How do I find out if my loan has anythign to do with MERS?
My first is with Wachovia, 2nd with Wells fargo
Well, I am not an attorney but I have been reading the headlines about MERS and recent rulings in several states that MERS does not have any right to foreclose in those states or jurisdictions. I would check on your foreclosure filings (notice of default, etc) to see if MERS is listed anywhere on them or you could ask the court and/or check the county records. This is usually a strategy to prevent losing one's home, but as you mentioned, you don't want the house. However, I have seen at least one case where a bankruptcy judge ruled that the borrower's mortgage basically be written off since the lender could not produce a note showing clear transfer of ownership and thus, not only was the foreclosure forbidden, but the judge ruled the borrower didn't owe them anything! Bankruptcy Court Wipes Out Mortgage Debt When Servicer Fails to Document ClaimOkay, just a question here - don't know how I missed this for so long, BUT...
I just checked this morning, and our loan is listed on MERS as active, with Wells as the servicer. This house was foreclosed (sold at auction) on October 6.
I said on another thread that I assumed Wells initiated the foreclosure, but I don't know that for sure.
Here's my question: what does this mean for me, as a homeowner who has already lost their home? I don't really want the foreclosure overturned, because I don't want the house.
But if they don't own the note, do I still have some sort of legal recourse?
This is what I was thinking. I'd love to save anyone the hassle, heartaches, & tears we went through. But I sure would like to have some of that money I sent them all those years just to be foreclosed on!!You never know, but you may win for some kind of damages. At the very least, you may help set a precedent for other homeowners.