If you are buying mortgage notes from banks or private sellers then you know sometimes those small pesky details can turn into big trouble. Recently a reader shared one of his note buyer stories of a "good deal gone bad." He was kind enough to let me share his story in hopes of saving others from a similar situation. After you read his story please head over to What Private Note Buyers Can Learn from MERS for tips on safeguarding against this challenging situation. Buying Mortgage Notes … [Read more...]
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Buying Mortgage Notes? Sometimes It’s The Little Things!
May 23, 2012 3 Comments Filed Under: Note Buyers Tagged With: buying mortgage notes, buying mortgage notes from banks, MERS, note buyers, original note, real esate notes
What Private Note Buyers Can Learn from MERS
By Tracy Z

Note Buyers take notice; a U.S. Bankruptcy Judge has now ruled MERS's business practices are unlawful. Heard of robo-signing, burger king kids, and attorneys promising to stop foreclosure? Well that’s all part of the MERS mortgage lending mess and it just got a lot harder than calling for a cleanup on aisle 5. What’s the impact? L. Randall Wray, Professor of Economics, wrote this: "United States Bankruptcy Judge Robert Grossman has ruled that MERS's business practices are unlawful. He … [Read more...]
March 14, 2012 Leave a Comment Filed Under: Notes 101 Tagged With: holder in due course, MERS, note buyers, note endorsement, private mortgage notes, safekeeping original note, sell promissory note, selling and buying mortgage notes