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News for Real Estate Investors and Landlords — psa

Technical Attack on Foreclosure Proves Successful

Posted by 15789465 on

It must have been "mortgage day" at the Alabama Supreme Court!  Also on September 13, 2013, it decided the case of Harris v. Deutsche Bank, Case No 1110054. This was a MERS mortgage, with a securitized trust. Deutsche Bank was the Trustee. You have to understand that the promissory note is the instrument the borrowers sign, in which they agree to repay the money they borrowed. The mortgage is a separate instrument, in which the borrowers agree their real estate will be collateral for the promissory note.  The term "mortgage loans" generally refers to the entire transaction, note and mortgage....

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