Northern MI Judge Throws Out Foreclosure Says Note Wasn't Assigned By MERS

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Northern MI Judge Throws Out Foreclosure Says Note Wasn’t Assigned By MERS

Northern MI Judge Throws Out Foreclosure Says Note Wasn’t Assigned By MERS

MFI-Miami-

An interesting ruling came down from the nether regions of Northern Michigan today.  Houghton County Circuit Judge Charles Goodman ruled that a note holder lacked legal standing to execute both a foreclosure and the subsequent eviction because the originating lender Ameriquest only transferred their rights as mortgagee to MERS not their rights under the note.  Therefore, because the mortgage and note have been separated and only the mortgage was assigned, the foreclosing entity, Household Finance who MERS assigned the mortgage to, lacked the legal standing to execute the foreclosure and eviction because they did not hold the promissory note.

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