JohnQPublic
25th August 2012, 09:46 PM
Fixing the Mortgage Mess: The Game-changing Implications of Bain v. MERS (http://www.huffingtonpost.com/ellen-brown/gamechange-bain-vs-mers_b_1820591.html)
Ellen Brown (http://www.huffingtonpost.com/ellen-brown) Author, Web of Debt; President, Public Banking Institute
"Two landmark developments on Aug. 16 give momentum to the growing interest of cities and counties in addressing the mortgage crisis using eminent domain:
The Washington State Supreme Court held in Bain v. MERS, et al. (http://www.courts.wa.gov/opinions/index.cfm?fa=opinions.showOpinion&filename=862061MAJ), that an electronic database called Mortgage Electronic Registration Systems (MERS) is not a "beneficiary" entitled to foreclose under a deed of trust; and
San Bernardino County, Calif., passed a resolution (http://www.nationalmortgagenews.com/dailybriefing/san-bernardino-eminent-domain-plans-1031849-1.html) to consider plans to use eminent domain to address the glut of underwater borrowers by purchasing and refinancing their loans..."
Ellen Brown (http://www.huffingtonpost.com/ellen-brown) Author, Web of Debt; President, Public Banking Institute
"Two landmark developments on Aug. 16 give momentum to the growing interest of cities and counties in addressing the mortgage crisis using eminent domain:
The Washington State Supreme Court held in Bain v. MERS, et al. (http://www.courts.wa.gov/opinions/index.cfm?fa=opinions.showOpinion&filename=862061MAJ), that an electronic database called Mortgage Electronic Registration Systems (MERS) is not a "beneficiary" entitled to foreclose under a deed of trust; and
San Bernardino County, Calif., passed a resolution (http://www.nationalmortgagenews.com/dailybriefing/san-bernardino-eminent-domain-plans-1031849-1.html) to consider plans to use eminent domain to address the glut of underwater borrowers by purchasing and refinancing their loans..."