Michigan To Join Massachusetts As Real Estate Resale Market Quagmire After Recent State Appeals Court ‘Anti-MERS’ Ruling?
Written by Administrator on May 9th, 2011The Detroit Free Press reports:Local Realtors say title companies are canceling closings on some bank-owned homes after a recent Michigan Court of Appeals decision made it more risky to insure them. Late last month, the court ruled the Mortgage Electronic Registration System lacks authority to foreclose by advertisement in Michigan.(1) The system is an electronic record-keeper of mortgages.***
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