If the loan quasi-went to one of these MERC organizations, how would foreclosure be able to happen? The MERC organization can’t make it happen.
Yes, but most people won’t believe it. And banks will continue to call and threaten people. It would take a large percentage of people to stop making payments for this decision to have a major impact. I doubt that will happen until the Mugabe style inflation arrives.
Couldn’t they just assign the deed of trust back to the holder of the promissory note and give that lender standing once again. Maybe MERCs does not have standing without both note and deed but if it can be assigned one way, can’t it be assigned back?
MERS = would you cash this photocopy of a check that is made out to somebody else but give me the money.