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View Diary: BREAKING: Justice Dept Misled Public on Mortgage Fraud Probes, Eviscerated By Inspector General (248 comments)

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  •  It Really is State Dependent (1+ / 0-)
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    nuclear winter solstice

    For example, there is nothing illegal about MERS under California law.  Quite the opposite.

    There is a real difference between legal title and equitable title, and too many people do not know the difference and the powers that go with each.  Too many also don't realize that all of this is a creature of state, not federal law, and that every state is different.

    I've noted the crucial need to think about MERS and whether its actions or holding title was illegal at a state-by-state level since 2007.  That still remains true.  I am not a defender of either MERS or the underlying thinking of the lenders that led to its creation, believe you me.  But overstating the legal case has been a historical problem, to the detriment of too many individual homeowners in those states that do not require judicial foreclosure, for example, who relied on blanket statements about MERS.

    At this point, I just want America to admit that it still doesn't want its Black citizens to live in any state other than terror, subservience and inferiority, under pain of death. I can handle American racism, but I can't handle American denial.

    by shanikka on Sat Mar 15, 2014 at 09:15:30 AM PDT

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