Incredible. So basically if you have enough money to create a computer system to use as a place holder for your property, one can simply override 100’s of years of property law. Not to mention collect their own fees to shadow record while the counties lose out on billions of dollars.

This country is being destroyed by the banks every single day.

Law-

Three Texas counties, including the two that contain Dallas and Houston, were rebuffed on Thursday in their effort to bring a class action on behalf of all Texas counties against Bank of America and Mortgage Electronic Registration Systems Inc. The three counties accused BofA and MERS of using an electronic registry to avoid paying nearly $100 million in mortgage filing fees.

[LAW.COM]