Legal Question in Real Estate Law in Florida

I bought an HOA foreclosure and it has a first mortgage from Taylor Bean and was reassigned in March 2011 to MERS. When I went to the Mers website it does not have the loan number listed. It is invalid. I have googled several websites and one in particular stated that MERS cannot foreclose anymore. The property is located in Lee County, Florida. Is this true? Where is the loan then?


Asked on 8/09/11, 8:53 am

1 Answer from Attorneys
William W. Fernandez, Sr., J.D. Law Ofc. Wm. W. Fernandez, Sr., J.D., Atty. at Law

Maybe Limbo. But be careful, Taylor Bean is known for selling mtgs. to more than one buyer. See who executed the mtg. in March 2011. There are Robo signers who execute assignments but have no real authority to sign for Taylor Bean, who is now out of business. The fact that the number is not listed does not necessarily mean that U R out of the woods. U may still have trouble selling the property if U can not get Title Insurance w/o an exception 4 the mtg.

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Answered on 8/09/11, 5:25 pm


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