Well, for those of you in the first state (historically chronologically), here's a bright bit of trick or treat on your approach to the weekend before Halloween. The state attorney general, Beau Biden, has filed suit against the electronic mortgage organization, MERS, and its parent, MERSCORP, alleging that they have violated the state's Deceptive Trade Practices Act in three ways. In these violations, the suit claims that by acting in these allegedly illegal ways, the companies are able to initiate and conclude foreclosures with little, if any, chance for the affected homeowners to respond and try to avoid the loss of their homes. MERS has claims on more than 30% of all Delaware mortgages, and, since 2008, has initiated foreclosure actions on over 1600 Delaware homes, naming itself as plaintiff.
MERS denies the allegations in the suit, but this definitely could be something you Delawarean homeowners might want to pay attention to. Suggest you contact the AG's office for more details. If you own a home some place other than Delaware, you may still want to pay attention to this, as MERS has connections to mortgage/foreclosures in many other states.
Good luck.
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