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The Secret Black Box Big Banks Use To Manipulate Mortgages

Watch: Lee explains the Mortgage Electronic Registration System (MERS) and how the banks use it to destroy local land records, avoid taxes, and foreclose on our homes.

This is your Moment of Clarity #215: The banks use something called MERS in order to destroy local land records, avoid taxes, and foreclose on our homes. The truth is slowly coming out about it and people are fighting back.

At the advent of MERS, this bastion of our recordation system was rendered obsolete, to the detriment of every owner of real property in the United States.

In September the highest court in the state of Washington ruled that a company that has foreclosed on millions of mortgages nationwide can be sued for fraud, a decision that could cause a new round of trouble for the nation's banks.

The ruling is one of the first to allow consumers to seek damages from Mortgage Electronic Registration Systems (MERS), a company set up by the nation's major banks, if they can prove they were harmed.

Legal experts said last month's decision from the Washington Supreme Court could become a precedent for courts in other states. The case also endorsed the view of other state courts that MERS does not have the legal authority to foreclose on a home.

Here you can sign a petition demanding integrity in our land records, and an end to MERS.

Keep fighting,

Lee

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