Banks, states reach $26 billion settlement

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30. Your payments have nothing to do with the party who brought a foreclosure action against you.

You would not have known what Trust or Trusts supposedly owned your loan. There may not even be a Trust that appears in your Title history. You would not have received a full accounting of your mortgage loan. You would not have known if your loan remained in a functioning Trust or a failed Trust that was sold off to the U.S. government or the Federal Reserve.

My attorney and I discovered that even with a Subpoena, MERS will not release my loan information. Why must it remain a secret?

If it helps, think of the situation as follows. Suppose you owed $100,000 to some party somewhere, but some other party came along and stole the home from you using fraudulent documents. Legally, you remain the owner of the property and are entitled to damages. The court considers the great damage done to you and your property Title, subtracts the $100,000 if the debt is valid, and the party who wrongfully foreclosed on you writes you a nice check for the difference.

This is what I never understood about the securitized mortgage scam. The banksters exposed themselves to great liability in order to steal homes. Their greed must have outpaced any sound business sense.