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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: BK court in CA found that lender that used MERS doesn't have the right to foreclose Posted by JK (the other JK) on July 20, 2010 at 7:51 PM In Reply to: Re: BK court in CA found that lender that used MERS doesn't have the right to foreclose posted by Monrovia Dave on July 15, 2010 at 10:10 PM : : : http://foreclosuredefensenationwide.com/?p=264 : : : "This opinion thus serves as a legal basis to challenge any : : : foreclosure in California based on a MERS assignment; to seek to : : : void any MERS assignment of the Deed of Trust or the note to a : : : third party for purposes of foreclosure; and should be sufficient : : : for a borrower to not only obtain a TRO against a Trustee’s Sale" : : : Anyone know what a TRO is? : : Temperary restraining Order : Ward could you expand on the ramifications of this decision please? : Thank You It means be careful buying a house where M.E.R.S. is the foreclosing beneficiary. The reality is VERY few homeowners actually sue. But if you do buy one and the former homeowner has the resources to tie you up in BK court you may be waiting a LONG time to get possession. It would seem to me that if the former homeowner got a BK judge that doesn't believe M.E.R.S. has standing, the "real" beneficiary will have to restart the foreclosure process and foreclose again. Follow Ups: Re: BK court in CA found that lender that used MERS doesn't have the right to foreclose Dan_L 2:37 AM, 07/22/10 (1) Notice of Trustee Sale shows foreclosing beneficiary. (nt) JK (the other JK) 6:19 PM, 07/22/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : : http://foreclosuredefensenationwide.com/?p=264 : : : : "This opinion thus serves as a legal basis to challenge any : : : : foreclosure in California based on a MERS assignment; to seek to : : : : void any MERS assignment of the Deed of Trust or the note to a : : : : third party for purposes of foreclosure; and should be sufficient : : : : for a borrower to not only obtain a TRO against a Trustee’s Sale" : : : : Anyone know what a TRO is? : : : Temperary restraining Order : : Ward could you expand on the ramifications of this decision please? : : Thank You : It means be careful buying a house where M.E.R.S. is the foreclosing beneficiary. The reality is VERY few homeowners actually sue. But if you do buy one and the former homeowner has the resources to tie you up in BK court you may be waiting a LONG time to get possession. It would seem to me that if the former homeowner got a BK judge that doesn't believe M.E.R.S. has standing, the "real" beneficiary will have to restart the foreclosure process and foreclose again. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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