Posted by Linda_in_MI on 5/23/11 1:00pm
Msg #384093
MERS loses again--mortgage filed in wrong county
From The Detroit News: http://detnews.com/article/20110523/METRO/105230342/Court--New-trial-for-soap-scum-case#ixzz1NCO40oqe
IRS WINS- IT KNOWS WHERE THE PROPERTY IS
Rapid City— It sometimes pays to check a map.
Those are the exact words of a federal appeals court in a decision that bars a mortgage company from being first to put a lien on a property in northern Michigan.
Mortgage Electronic Registration Systems, known as MERS, supplied a $400,000 mortgage to Tammy Church in 2006. The company filed with the Kalkaska County Recorder of Deeds.
But the property is in Rapid City in Antrim County.
By the time the mistake was discovered, the Internal Revenue Service had already filed liens for back taxes. The appeals court says the IRS deserves to stay first in line. The court says MERS is a sophisticated business and there's no basis in law to overlook its error.
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