Reply #4: Homeowners do have some recourse.

[dixiegrrrrl]

Those of us who are paying our mortgages have a legitimate question:
who owns the title/deed of trust?
If the chain is broken, NO ONE owns it, which means NO ONE can legally accept the money or
give us the paid off title.
Which means with a clouded title, I cannot sell the house if I need to
( assuming there is any economy left when I sell).
The recourse is to get a lawyer to write a letter to the servicer of the loan
(in our case, BOA, who bought Countrywide, who is being charged with illegal loan processes)
and ask who is the owner of the title/mortgage ( deed of trust, in our state).

The owner of the mortgage that we are paying off is SUPPOSED to be which ever Mortgage Bond Trust that Countrywide sold the mortgage to, ( actually, supposed to be Fannie Mae,) but of course now we know those mortgages were never conveyed INTO the Bond Trusts.
In fact, those legally binding wet ink mortgages were ..."disappeared", which is why MERS was invented, to "record and track them electronically".
( MERS is now being sued also).
So, legally, if no "owner" of my mortgage can be found, no one has legal standing to collect my mortgage payments.
Several people have gone this route, then gone to court with the help of a knowledgeable
real estate attorney and won title to their house.


Next week I am going to the County Courthouse and see if MERS is on the title.
there is a 99% chance it is.
Then I ask BOA for the name of my mortgage owner.