Re-recording Mortgage to get asset out of their name

[catlady63]

What is the name of your state? MA

I have found out that my ex-husband has mortgaged his house and then registered it through the following company MORTGAGE ELECTRONIC REGISTRATION SYSTEM. I have never seen this before and I was wondering if it was a means for him to get assets out of his name. We will need to go back to negotiations regarding college education. If anyone knows anything about this company or what he may be doing I would truly appreciate it.
Thank you

 

[seniorjudge]

What is the name of your state? MA

I have found out that my ex-husband has mortgaged his house and then registered it through the following company MORTGAGE ELECTRONIC REGISTRATION SYSTEM. I have never seen this before and I was wondering if it was a means for him to get assets out of his name. We will need to go back to negotiations regarding college education. If anyone knows anything about this company or what he may be doing I would truly appreciate it.
Thank you

Your husband has nothing to do with MERS. The institution who loaned him the money registered it with that compay; then they sold the first lender sold it to a second lender. MERS keeps track of all this.


Q: I have never seen this before and I was wondering if it was a means for him to get assets out of his name.

A: No, it's a standard business practice that takes place thousands if not millions of times a year.

 

[catlady63]

Thank you, I have never had this happen to my mortgage so I was unfamiliar with it. I appreciate your help.

 

[seniorjudge]

Thank you, I have never had this happen to my mortgage so I was unfamiliar with it. I appreciate your help.

You are welcome.


http://www.mersinc.org/


Actually, a pretty boring website.

 

[nextwife]

The mortgage does not change the ownership.