MERS, The Foreclosure Documentation Mess and The Elephant in the Room!

(Peter Giardini – Biggerpockets.com) — Unless you are Rip Van Winkle, it’s hard to not know about the latest foreclosure mess hovering over the housing market.  This mess has to do with the manner in which lenders handled and processed the paperwork needed to proceed through various courts to obtain a foreclosure. 

As you know, most lenders were taking drastic short cuts in the review process and they got caught!  And in typical fashion they all scrambled to fix the issue, review the paperwork and declare they won’t let this happen again.

So… I guess we can all move along as there is nothing more to see regarding this latest mess.  Right?

Well… perhaps this mess is fixed… if you are willing to overlook the ELEPHANT in the room.

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