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Lawsuit attacks cumbersome, confusing mortgage registry.

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elleng Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-29-11 10:33 AM
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Lawsuit attacks cumbersome, confusing mortgage registry.
'How can a house be foreclosed if the mortgage holder can't be proved in court? How can you sell your house if there is a legal question about the title?

Multiply that problem several million times across the country, and you can see why the mortgage system is in such a mess.

That's the heart of Beau Biden's lawsuit against the Mortgage Electronic Registration System, or MERS, as it is known.

Biden claims in a Chancery Court suit Thursday that MERS has been systematically deceiving Delawareans.' |newswell|text|Opinion|p

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