Comments on: Massive relief…the little firm called MERS http://www.notebuyingprofits.com/blog/1483/massive-relief-the-little-firm-called-mers/ Real-Life, Up-to-Date Training to Profit from Defaulted Mortgages Fri, 19 Mar 2010 23:15:21 -0400 http://wordpress.org/?v=2.8.2 hourly 1 By: kclawdog http://www.notebuyingprofits.com/blog/1483/massive-relief-the-little-firm-called-mers/comment-page-1/#comment-956 kclawdog Sun, 14 Mar 2010 17:45:51 +0000 http://www.notebuyingprofits.com/blog/?p=1483#comment-956 What the Kansas law states is that the owner of the deed of trust must bring the action. Since MERS is a clearing house for notes it does not have an ownership interest. The deed of trust and corresponding note was assigned to MERS for benefit of the investor. It only requires a little planning. The investor needs to get an assignment of the deed of trust from MERS and record the assignment prior to sending out a notice of default and recording the Lis Pendens. Otherwise the owner of the property will likely challenge the foreclosure and prevail under Kansas law. It may also make the effort to foreclose on the deed of trust void or voidable. It does not mean that the deed of trust cannot be foreclosed. It is important to hire an attorney that is familar with Kansas laws regarding foreclosure or to familarize yourself with the Kansas foreclosure law prior to requesting the courts to act. What the Kansas law states is that the owner of the deed of trust must bring the action. Since MERS is a clearing house for notes it does not have an ownership interest. The deed of trust and corresponding note was assigned to MERS for benefit of the investor. It only requires a little planning. The investor needs to get an assignment of the deed of trust from MERS and record the assignment prior to sending out a notice of default and recording the Lis Pendens. Otherwise the owner of the property will likely challenge the foreclosure and prevail under Kansas law. It may also make the effort to foreclose on the deed of trust void or voidable. It does not mean that the deed of trust cannot be foreclosed. It is important to hire an attorney that is familar with Kansas laws regarding foreclosure or to familarize yourself with the Kansas foreclosure law prior to requesting the courts to act.

]]> By: DaVida Logan http://www.notebuyingprofits.com/blog/1483/massive-relief-the-little-firm-called-mers/comment-page-1/#comment-908 DaVida Logan Tue, 01 Dec 2009 19:10:07 +0000 http://www.notebuyingprofits.com/blog/?p=1483#comment-908 how do I get a bank to sell ONE specific note to me at a discount? I hope there is a method that you know how that works. the note has been non-performing for 6 months or more and is scheduled for foreclosure in March 2010. Thanks! how do I get a bank to sell ONE specific note to me at a discount?
I hope there is a method that you know how that works. the note has been non-performing for 6 months or more and is scheduled for foreclosure in March 2010.
Thanks!

]]> By: Hannah Zorab http://www.notebuyingprofits.com/blog/1483/massive-relief-the-little-firm-called-mers/comment-page-1/#comment-906 Hannah Zorab Mon, 30 Nov 2009 17:09:10 +0000 http://www.notebuyingprofits.com/blog/?p=1483#comment-906 I am very interested in this course but dont have the money to purchase notes myself, do you go over any information at all about brokering a note? I am so eager to learn more about this program and have watched most of the videos already, but am a bit scared. I have tried so many home based businesses and have wasted so much time and money on things that just did not work. I have a lot of debt that I want to pay off and would love to finally be able to work for myself. I know I could do it, but I think that I just need to know that I will be able to find the help and support if I needed it. Please help! Sincerely, Hannah I am very interested in this course but dont have the money to purchase notes myself, do you go over any information at all about brokering a note? I am so eager to learn more about this program and have watched most of the videos already, but am a bit scared. I have tried so many home based businesses and have wasted so much time and money on things that just did not work. I have a lot of debt that I want to pay off and would love to finally be able to work for myself. I know I could do it, but I think that I just need to know that I will be able to find the help and support if I needed it. Please help!

Sincerely,

Hannah

]]> By: STEVEN MANCILLA http://www.notebuyingprofits.com/blog/1483/massive-relief-the-little-firm-called-mers/comment-page-1/#comment-895 STEVEN MANCILLA Thu, 05 Nov 2009 04:14:53 +0000 http://www.notebuyingprofits.com/blog/?p=1483#comment-895 I concur...\"much ado about nothing\".....to think for a second that x million notes would be able to avoid foreclosure...come on..... I concur…\"much ado about nothing\"…..to think for a second that x million notes would be able to avoid foreclosure…come on…..

]]> By: Vlad http://www.notebuyingprofits.com/blog/1483/massive-relief-the-little-firm-called-mers/comment-page-1/#comment-872 Vlad Tue, 27 Oct 2009 05:11:39 +0000 http://www.notebuyingprofits.com/blog/?p=1483#comment-872 Wow, I had to stop reading the article half way through - what a bunch of BS! - ... if MERS has no standing to foreclose, then nobody has standing to foreclose... - or calling MERS a \"\'Straw Man\' Shielding Lenders and Investors from Liability\" And people like this teach other people about debt and finances?!? Or this quote from an attorney: \"...consumers and their counsel can no longer turn to the public recording systems to learn the identity of the holder of their note.\" What a lie! Firstly, consumers and their counsel can look at the bill they\'re paying... or supposed to be paying, and will see the identity of the lender. Secondly, MERS provides several ways to check who is servicing the loan. Wow, I had to stop reading the article half way through – what a bunch of BS!

- … if MERS has no standing to foreclose, then nobody has standing to foreclose…
- or calling MERS a \"\’Straw Man\’ Shielding Lenders and Investors from Liability\"

And people like this teach other people about debt and finances?!?

Or this quote from an attorney: \"…consumers and their counsel can no longer turn to the public recording systems to learn the identity of the holder of their note.\"
What a lie! Firstly, consumers and their counsel can look at the bill they\’re paying… or supposed to be paying, and will see the identity of the lender. Secondly, MERS provides several ways to check who is servicing the loan.

]]> By: Kevin http://www.notebuyingprofits.com/blog/1483/massive-relief-the-little-firm-called-mers/comment-page-1/#comment-869 Kevin Sun, 25 Oct 2009 18:40:39 +0000 http://www.notebuyingprofits.com/blog/?p=1483#comment-869 I have recently canceled my MERS membership. MERS is not a good vehicle for investors, other than to have loans quickly assigned to your entity. I\'ve since taken all my loans out of MERS. I have recently canceled my MERS membership. MERS is not a good vehicle for investors, other than to have loans quickly assigned to your entity. I\’ve since taken all my loans out of MERS.

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