Need Help Identifying a Company: Mortgage Electronic Registration Services, Inc. (VANITY)

Self | February 20, 2010 | Alberta's Child

[tomd2]

MERS is only the electronic filing system for millions of mortgages bundled into securities which are sliced and sold into several MBS tranunches. MERS has been on the losing end of many foreclosures in multiple states (Ohio, Florida, MA to name a few) because while MERS represents the leinholder as agent for processing, it is not the leinholder. In addition, MERS can not produce the original signed documents. They try to use electronic representations (an image or fax) but the courts have not caught up with the technology and require the originals.

While this does not assist in your title search, it sounds like you just are looking for foreclousre notice and if that has been adjucicated. the MERS info will not help there. you have to do a title search on the property and a search to see if any notices of default have been filed against the property. contact the attorney who filed the notice of default and inquire as to status. many NOD’s are currently in limbo while loan modifications are pursued. you may have keep checking if any Notice updates are filed.

also ask the taxing authority where the tax bills are sent. I am not an attorney but do puchase tax liens and do my own title searches.

[bolta_lightnin]

All indications are that the property was foreclosed.
Upon foreclosure all liens on the property are wiped out. All previous liens that were not paid off by the foreclosure become unsecured debts which are then written off as a loss and/or sold to third parties for collection. You can check your county’s online tax records for sales data and title changes but there can still be existing debts on the Mortgagee. They are just no longer secured by the property.