The Michigan Supreme Court has reversed an appeals court ruling that had cast doubt on thousands of home foreclosures across the state. The court said Wednesday that it’s legal for Mortgage Electronic Registration Systems (MERS) to foreclose by advertisement when a loan turns bad. Known as MERS, the company acts as an agent for lenders. In a 4-3 decision, the Supreme Court says MERS has an interest in the debt and acted properly under Michigan law.

Needless to say, many Michigan homeowners who have been hoping to dodge their foreclosure through a possible MERS loophole will need to figure out their next step.

 
Posted by Trent Dalrymple on 11/19/2011 08:36 PM   Comments (0)  
Generate short URL

0 Comments on Private Money: Michigan High Court backs MERS
What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Trentpicture Rainmaker_large

Trent Dalrymple

Royal Oak, MI

More about me…

Metro Mortgage Investments LLC, Private Hard Money Lending

Address: 26711 Woodward Ave., Suite 301, Huntington Woods, MI, 48070

Office Phone: (248) 547-3006

Cell Phone: (248) 854-0625

Email Me