Michigan Supreme Court Overturns Appeals Court in MERS Foreclosure Case
The Michigan Supreme Court has reversed an appeals court ruling that had sent shockwaves throughout the Michigan real estate industry for the last few months. The Michigan Supreme Court said Wednesday that it is legal for Mortgage Electronic Registration Systems to foreclose by advertisement when a loan is defaulted. In a 4-3 decision, the Supreme Court said MERS has a sufficient interest in the debt and, thus, acted properly under Michigan law.
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