Many home lenders use an entity called Mortgage Electronic Registration Systems, Inc., or “MERS” as a nominal party in loan transactions to facilitate an electronic central registry of note holders and servicers. On its website, MERS claims many benefits to use of their services. According to the website, MERS should be named in security instruments as a “nominee
Since the Chicago Tribune coined the phrase in a 1986 editorial, stating “We’ve become a nation measuring out our lives in shopping bags and nursing our psychic ills through retail therapy”, shopping with the primary purpose of improving the buyer’s mood or disposition has achieved a certain legitimacy – and has become a contributing factor in
There is a national organization, Debtor’s Anonymous, which is based on the principles of Alcoholics Anonymous and uses AA’s 12 Steps to address the problem of unmanageable debt. This program is not a substitute for bankruptcy by any means, being primarily aimed at helping people avoid incurring additional debt, but it is potentially a very useful tool
In the bankruptcy practice where I work, I am seeing an increasing number clients caught in financial binds caused by usurious home loans. Oregon has an explicit exception to the statutes limiting interest and fees charged on loans set forth in ORS 82.010(4). On the other hand, there are many state and federal statutes including RESPA
Bankruptcy in many ways is a Christian concept. American bankruptcy laws have Biblical roots. The seven-year waiting period between personal bankruptcies that was the law until 2005, for example, is based upon Deuteronomy 15:1-2 At the end of every seven-year period you shall have a relaxation of debts, which shall be observed as follows. Every creditor
When is a free credit report not free? A credit report is not really free, or at least you could easily be charged for it, if you use one of the commercially advertised websites. The television commercial advertising this service is really a for profit venture trying to sell you a service for a fee. You must first give