Legal Question in Real Estate Law in Illinois
I'm in foreclosure, trying to find clear title holder to my house. MERS is listed as a defendant in the foreclosure, Wells Fargo is servicer, according to records my house is listed under Freddie Mac. I'm broke and waiting for an appointment with legal aid, trying to figure out my options. What are the ramifications with MERS listed as defendant? My goal is to find out who owns the actual title to my property. Thank you.
2 Answers from Attorneys
At this point, you should be in title to your property. MERS listed as a defendant means either you had a second mortgage to a lender who registered your loan with MERS or a previous mortgage which was registered with MERS was not released. It is likely of very little importance to your defense, if you have one, that MERS is listed as a co-defendant.
You have title to your house, and MERS only holds a lien at this point.You should discuss your options with legal aid and understand how much time you have before you move, or what defences you may have to slow or stop the foreclosure lawsuit.
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