Discusses the implications of a landmark decision — Landmark National Bank v. Kesler – on 8/28/09 by the Supreme Court of Kansas holding that Mortgage Electronic Registration Systems, Inc. (otherwise known as “MERS”) has no standing to commence a foreclosure action as to a home mortgage registered with it, and that when MERS transfers title to the mortgage the assignee may not get good title to the mortgage, which means that the assignee also may not have standing to foreclose. This is …
I keep seeing in the news that foreclosure’s are up XX% in the last year. What they never say is what the foreclosure rate actually is. I mean if it’s up to 4% from 3%, that’s a dramatic 33% increase, but it also means that there are still 96% of people still paying their mortgages.
I just want to know what the real number is.