Mortgage Electronic Registration Systems, This company bought my mortgage from Countrywide on 11/8/07 and filed the deed on Nov. 15, 2007. We were never notified of a Sheriff's Sale, although, the state it was sent by certified mail. Fort Worth Texas

I believe there still is a practice called Bankruptcy which wipes away a fair amount of debt. Included in that would be a mortgage difference from when Countrywide sells the house and the actual amount owed.

And the beauty of it all is that naomi can keep her new home with Countrywide not having any further recourse.

As for the people who post on this site saying that banks and financial institutions are not to blame, shame on you. Banks and mortgage companies make mistakes all the time, and then when you catch them in the act they deny it. What makes the difference is when they do make mistakes, will they admit fault and correct it or throw it back on the customer.

When I had two mortgages with Countrywide I would send in two checks with two statements in one envelope. They would constantly apply both payment checks to only one or the other mortgage. I then tried mailing them in separately, each with their respective statement and check written out for the amount due. Countrywide would still somehow mysteriously apply payments to the wrong account number. After dealing with them for a year I refinanced with a local credit union.

When the bank sells the home for less than the mortgage amount, they will come after you for the difference. Do you really think the bank is just going to roll over and take the loss when they foreclose on a home? The banks will sue you for the difference. So while the home is on the market, you need to be saving up money to pay the difference.

My intention is to update my Ripoff Report: Apparently, a lot of people are not aware of the Hardship Law which allows a homeowner and the bank that holds the mortgage to reinstate the homeowners loan by changing the loan so that they can afford it. In order to use this Hardship Law, one must meet 1 of 3 criteria, i.e., a death in the family, a Veteran or a chronic illness. Remember, one only needs to meet one of the criteria. We met all 3 criterias and Countrywide had the nerve to tell us that we didn't even know what hardship was. I am so glad that they are no longer around. They deserved what they got and I am so happy. They tried to take everything away from us, but they couldn't. Yeah for us. We were able to buy a home in a lovely trailer park overlooking Lake Michigan. It is built up the side of a mountain. There is no one in front of us and the row behind us is about 6 feet up from us, so when we look out our back windows, all we see is grass as it goes up like a mountain does. There are only 4 houses on our block. We love it here and the bank was not able to sell that home, so they are stuck with it. We are moving on, and after this is paid off in 2-1/2 more years, we will be looking for and, hopefully, buying some land in the Upper Peninsula because there are so many people moving to northern Michigan because of the water, that we feel crowded here, and, therefore, we shall head north where there are fewer people and lots of water.

I am so glad that life works out for me for the better, most times. We do still love it here because we have a beautiful view of Lake Michigan, but we still are planning on going to the Upper Peninsula because there are too many people here. We are still planning on going north to find some property where there are less people. Even if that doesn't happen, we have a nice home with a beautiful view. I am not complaining because this is better then what we had. I am so glad that they are stuck with that other house. They have already dropped the price on it, but they still can't sell it because we are in Michigan and nothing is selling. It is wonderful when one can take a bad thing and turn it around and make it a good thing.

Good luck to everyone else that Countrywide took advantage of. Hope things work out for the best for all of you.

MERS is not owned by Countrywide and they are widely used by many lenders.

The banking industry is overloaded with paper. Loan Documents, assignments, allonges..the list goes on. MERS is a solution to try and eliminate paper in the mortage industry. MERS allows a lender to register their loans electronically so the loans can be tracked while they are transferred or sold to other investors and Lenders. MERS does not own the loans. They are a beneficiary nominee, but all they do is provide a location to track the servicing of those loans. MERS eliminates the need for a paper assignment every time the loan is transferred. Loans are transferred through Org Id's via MERS rather than paper assignments. I would suggest more research be done on this company before publishing a rip off report.

MERS is not owned by Countrywide and they are widely used by many lenders.

The banking industry is overloaded with paper. Loan Documents, assignments, allonges..the list goes on. MERS is a solution to try and eliminate paper in the mortage industry. MERS allows a lender to register their loans electronically so the loans can be tracked while they are transferred or sold to other investors and Lenders. MERS does not own the loans. They are a beneficiary nominee, but all they do is provide a location to track the servicing of those loans. MERS eliminates the need for a paper assignment every time the loan is transferred. Loans are transferred through Org Id's via MERS rather than paper assignments. I would suggest more research be done on this company before publishing a rip off report.

MERS is not owned by Countrywide and they are widely used by many lenders.

The banking industry is overloaded with paper. Loan Documents, assignments, allonges..the list goes on. MERS is a solution to try and eliminate paper in the mortage industry. MERS allows a lender to register their loans electronically so the loans can be tracked while they are transferred or sold to other investors and Lenders. MERS does not own the loans. They are a beneficiary nominee, but all they do is provide a location to track the servicing of those loans. MERS eliminates the need for a paper assignment every time the loan is transferred. Loans are transferred through Org Id's via MERS rather than paper assignments. I would suggest more research be done on this company before publishing a rip off report.

MERS is not owned by Countrywide and they are widely used by many lenders.

The banking industry is overloaded with paper. Loan Documents, assignments, allonges..the list goes on. MERS is a solution to try and eliminate paper in the mortage industry. MERS allows a lender to register their loans electronically so the loans can be tracked while they are transferred or sold to other investors and Lenders. MERS does not own the loans. They are a beneficiary nominee, but all they do is provide a location to track the servicing of those loans. MERS eliminates the need for a paper assignment every time the loan is transferred. Loans are transferred through Org Id's via MERS rather than paper assignments. I would suggest more research be done on this company before publishing a rip off report.

I'm sorry all of this is happening to you, however, you didn't make your mortgage payments. Once you get behind, they can foreclose. Please read your mortgage documents. Lenders expect you to have a safety net for hard times and cannot be faulted if you aren't responsible financially. Not only that, you are in a non-judicial state for foreclosures. You do not have to receive notice. Plus, you weren't making your mortgage payments, you knew you were behind. That in and of itself is notice to you. Its harsh, but true. Your situation truly sucks, BUT, its not due to any illegality on the part of your mortgage company. You have not been ripped off, you are down on your luck and angry about what is happening to you.

When I first got my home loan I asked for a copy of my paperwork and found a really long number at the top of my deed. I called and asked what it was and learned it is a MIN number from mortgage electronic services, so of course I read up on them.

This is like a social security number for the loan, some of the numbers are for who gave you the loan and others identify just your loan. They do this so you are tracked for your loan transfering to other mortgage companies and if needed they tell them if you have any liens on the property like taxes the number is registered on the recorded loan documents at for whatever county you live in so if you are late on your taxes they tell the mortgage company.