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Washington MERS Suits Fail

Posted in Foreclosure Defense

Judges Dismiss MERS Suits By Evan Nemeroff Two borrower-initiated lawsuits alleging that the Mortgage Electronic Registration Systems role in the plaintiffs’ deeds of trust caused them injury were both dismissed by federal judges in the Western District of Washington Nov. 20, 2013. In Reid v. Countrywide Bank NA, the plaintiff claims the defendants -Countrywide as the lender, LS Title as trustee and MERS as the beneficiary -committed fraud, violated the Washington Consumer Protection Act, were negligent, breached the duty of good faith and fair dealing, placed a cloud on their title. and inflicted emotional distress. The court immediately dismissed the cloud of title and emotional distress claims filed in the first complaint. Allegations were also rejected that the plaintiff was injured by robo-signing acts and were unaware of who was entitled to receive their mortgage payments. A second complaint...

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Facing Foreclosure? You May Have Options

Posted in Foreclosure, Foreclosure Defense

  Facing Foreclosure? You May Have Options If yours is one of the nation’s estimated 14 million troubled mortgages, it can seem as though you are running out of options. But help may be on the way: “Homeowners unable to meet their current mortgage payments may have a new remedy. Many lenders are showing a new willingness to reduce the principal owed on the property by lowering or ‘writing-down’ the amount. The reduction brings the mortgage loan in line with current property values and borrower incomes. As foreclosures rise so, it seems, does lenders’ flexibility in offering this option: Principal write-down was used in 30 percent of private loan modifications in 2011, as opposed to only 2 percent in 2009.” (New Options for Homeowners Facing Foreclosure by Lawyers.com) For your reference, here’s a roundup of recent legal updates on...

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Attorney Shawn Newman on Foreclosure Defense

Posted in Foreclosure

Mortgage wizard interviews Attorney Shawn Newman on foreclosure...

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