If you have a mortgage on your home, you better read this article from Saturday's New York Times. Never heard of MERS? But you will very shortly, because it could turn out to be a very public problem for the mortgage industry. Just in case you forgot what has transpired over the past three years, think sub-prime mortgage debacle.
This little corporation by staff size, approximately fifty people, claims to hold title to roughly half of all the home mortgages in the nation, approximately astonishing 60 million loans. That is the problem. In many cases, they simply do not. Please read the article.
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