Thursday, May 16, 2013

Update On Foreclosure Process Blog

This morning brings us an important news update from yesterday's blog about the challenge of a "purchased mortgage" foreclosure in Colorado.

The Alabama Supreme Court today upheld a lower court opinion giving MERS (Mortgage Electronic Registration Systems) the ability to "legally assign" mortgages in that state, with this response coming as a result of a challenge similar to the one in Colorado. (Crum vs. LaSalle - in AL)

Upon further investigation, it seems that the Supreme Courts in Nevada, Rhode Island, and Idaho have also recent ruled in favor of MERS in this regard.

Hopefully the Judge in Colorado will follow suit.

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