Posted on: 21st Aug, 2009 03:32 pm
Hi.
Well, the economy got us, but after reading through this page I see we sure aren't alone.
We retained an attorney today to help up secure a loan modification, as GMAC has (not so nicely) told us to go away after I filed on my own.
My attorney has cited some statutes and decisions that are coming out of the state of Nevada, regarding "MERS." I understand that this is an electronic recorder of deeds, and there's some interesting decisions out of Las Vegas courts saying that MERS isn't allowed to enforce a mortgage because MERS technically doesn't exist.
Confusing doesn't begin to sum it up for me, but my question (Yeah, finally): Does holding these MERS decisions over GMACs head (we've been confirmed as a MERS client) going to help our modification case? This whole thing strikes me as a LOT of smoke and mirrors, when all I want to know is will I be able to get a mod and keep my house?
Well, the economy got us, but after reading through this page I see we sure aren't alone.
We retained an attorney today to help up secure a loan modification, as GMAC has (not so nicely) told us to go away after I filed on my own.
My attorney has cited some statutes and decisions that are coming out of the state of Nevada, regarding "MERS." I understand that this is an electronic recorder of deeds, and there's some interesting decisions out of Las Vegas courts saying that MERS isn't allowed to enforce a mortgage because MERS technically doesn't exist.
Confusing doesn't begin to sum it up for me, but my question (Yeah, finally): Does holding these MERS decisions over GMACs head (we've been confirmed as a MERS client) going to help our modification case? This whole thing strikes me as a LOT of smoke and mirrors, when all I want to know is will I be able to get a mod and keep my house?
Sounds like your atty has been keeping up on latest developments/rulings. He's correct about the NV MERS rulings. If he's smart, he'll challenge GMAC's legal standing if they try to push you around too much and force them to produce the original note. Try searching "Where's the Note, Who's the Note Holder" by Hon. Samuel Bufford and Hon. Glen Ayers. You may have a bit better understanding of what you're atty is thinking afterward.
Basically, the NV rulings state that MERS has no legal standing to bring an action of any kind because they do know own any interest in your note. Therefore, they are not a party of interest. You AND your atty are both going to want to take a look at the chain of title and all relevant assignments that have been filed at your county recorder/registry of deeds to make sure that everything has been properly filed and are actual, legal, and accurate documents as opposed to assignments with fraudulent information in them.
Hit " Financialstability dot gov " and check out the latest TARP and HAMP reports. You'll be able to see just how much money GMAC has pulled from the program. That may be a small bit of extra weight behind whatever hammer your atty feels like throwing at GMAC.
Recently, Attorney Max Gardner posted a very well crafted QWR (Qualified Written Request) letter over on CreditSlips cot org. You might want to have your atty file a version of it on your behalf with GMAC as well....
Mike Dillon
Manchester, NH
Getdshirtz dot com
Basically, the NV rulings state that MERS has no legal standing to bring an action of any kind because they do know own any interest in your note. Therefore, they are not a party of interest. You AND your atty are both going to want to take a look at the chain of title and all relevant assignments that have been filed at your county recorder/registry of deeds to make sure that everything has been properly filed and are actual, legal, and accurate documents as opposed to assignments with fraudulent information in them.
Hit " Financialstability dot gov " and check out the latest TARP and HAMP reports. You'll be able to see just how much money GMAC has pulled from the program. That may be a small bit of extra weight behind whatever hammer your atty feels like throwing at GMAC.
Recently, Attorney Max Gardner posted a very well crafted QWR (Qualified Written Request) letter over on CreditSlips cot org. You might want to have your atty file a version of it on your behalf with GMAC as well....
Mike Dillon
Manchester, NH
Getdshirtz dot com
In my opinion, it would be a better option to consult an attorney and take his opinion in this regard. He will be the best person to help you in knowing your state laws and thus you will know whether it could help you in getting a modification.