Who Really Owns Your Property?
A continued growth of U.S. foreclosures has caused a bit of confusion among banks. So much in fact, many Lenders are having a hard time identifying the holder of a mortgage. In turn, title concerns have become an issue, putting a stall on the sell of many U.S. homes.
An article from Bloomberg Businessweek reflects on these foreclosure issues and gives a bit of history explaining how our old-school ink and paper method of recording titles and mortgages has essentially collided with the modern MERS (Mortgage Electronic Registration Systems).
Get informed HERE.