It upholds the rule of law.
Otherwise, any bank, anywhere in the mortgage industry, could claim that they can foreclose on you.
We have laws for a reason.
Except that’s not why the courts are doing it, they’re doing it as a loophole to let people who don’t pay their mortgage keep their homes.
I’m not debating that there is a problem here with the way these transfers are done.
I’m simply asking in an age of economic turmoil what it will ACCOMPLISH. The RESULT of applying this carte blanche would be CHAOS.
Why not just declare every mortgage using MERS null and void, then all of us whose money will be lost in the resultant banking collapse will at least have a free and clear house to contend with?