The NY Times has an interesting article on MERS – the company that owns 60 million loans in the nation but no one seems to know. Here is the article.

Last month US Bankruptcy Judge Grossman on Long Island questioned the legal claim of MERS. Here is a Wall St Journal article discussing this.

Here is another article on the growing MERS litigation throughout the country.

If you have a loan that has been handled by MERS, you may be a victim of their practices and may have a legal right to challenge what MERS or the nominal lender is doing. There is currently at least one class action filed in New York concerning this and whether MERS lacked standing to foreclose certain loans. Call or email us if you would like my advice.

The six largest mortgage banks are involved in a battle with the highest court in New Jersey that may have implications for New Yorkers. Here is the latest story. The Court has ordered the banks to show why their foreclosure operations shouldn’t be suspended.

I previously blogged on a proposed bill that would significantly help some New York homeowners with an increased homestead exemption. Well, the bill is finally a law. It just went into effect on 1/22/11. Under the new law, Chapter 13 repayment plans become a much more viable option for many people to use to save their homes, while wiping out a large part of their unsecured credit card debt. Here is my prior blog which explains the significance of this change and how it may help: Bankruptcy Game Changer May Be Coming Soon (7/14/10).

Here is more info on the new law: Read more