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Click here to watch 60 Minutes recent report on Mortgage Fraud by the Banks
If you have a MERS mortgage and are in foreclosure you should call Stop Foreclosure Attorney Rocky Wixom Now to discuss your options!
Click here to listen to experts testify to congress about the MERS problems!
Don't wait to get thrown into the streets! Call us Right Now!
If you have your original closing papers handy it may help for you to pull out your "Deed of Trust" and find the relevant language. MERS will typically be noted on the first page of the Deed of Trust. You can also tell if you have a MERS mortgage by reading your Notice of Trustee's Sale.
If you do have a MERS mortgage there may be a few things you can legally argue to attack its validity but the following argument seems to be the strongest and it is what I have used in the Eastern Idaho Cases I have filed so far. With this argument I have been able to STOP foreclosure and in one case I am postured to have a foreclosure sale reversed after my clients have remained in their home post-foreclosure without making any additional mortgage payments for more than 14 months.
If you have a MERS mortgage then your Deed of Trust probably specifically defines MERS as a "beneficiary" to the Deed under Paragraph E of the first or second page of your Deed. But in Paragraph R the Deed also is careful to note that the MERS holds "only legal title" to the interests that were granted by you as the borrower when the Deed was created. The problem is that this blatantly violates Idaho Law.
Under Idaho Code Sect. 45-1503, MERS CANNOT be both a beneficiary and a trustee. In that same section the code defines a trustee as anyone who holds legal title. The statute also mandates that only Deeds of Trust that comport with the statute may be non-judicially foreclosed.
What does this mean to you? Well it provides a powerful legal argument that your lender cannot rely upon the MERS deed to pursue a non-judicial foreclosure. Practically, if you file a court action today you might be able to legitimately pressure the bank into modifying your loan to a more manageable loan.
Remember this information is provided to give insight to you as a borrower and it is highly recommended that you obtain an attorney to make your legal arguments for you.
Call foreclosure defense attorney Rocky Wixom today to see if he can help!
Click here to go back to the main Foreclosure page.
Why wait? Contact us right now to protect your home?
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