Follow Up: Unlawful Foreclosures

Here is a follow up to my blog from January 26 (Illegal Foreclosures Could Make "Proof of Product" Mandatory). A Judge recently ruled that Mortgage Electronic Registration Systems Inc., or MERS, had no right to seize a property through foreclosure. As many of you know, MERS is one of the largest mortgage services in the country. I encourage those of you in the REO industry to make sure that as much as possible you are buying direct from the institution that completed the foreclosure as there are several lawsuits of this nature popping up around the country. There could be far reaching implications to properties acquired through unlawful foreclosures.

Here is the link to the original blog:

Illegal Foreclosures Could Make "Proof of Product" Mandatory