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: The Home Equity Theft Reporter

Could 62 Million Homes Be Foreclosure-Proof???

By r morris

Attorney/author Ellen Brown writes in Seeking Alpha:Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the convenience of the mortgage industry. A California bankruptcy court, following landmark cases in other jurisdictions, recently held that this electronic shortcut makes it impossible for banks to establish their ownership of property

Full post as published by The Home Equity Theft Reporter on August 22, 2010 (boomark / email).