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Zombie mortgages and abandoned properties are costly problems for cities and counties across the country. The term “zombie mortgage” is meant to, and hopefully does, evoke images of undead mortgages that are nearly impossible to eliminate. In the legal literature, the term is used to...
Persistent link: https://www.econbiz.de/10012956047
This essay critically examines MERS' structure which incorporates principles of dubious legality such as a theory of common agency as well as a duality of roles held by MERS. The article examines many recent decisions in state, federal and bankruptcy courts in order to identify current trends...
Persistent link: https://www.econbiz.de/10013122005
Part I of this Article briefly explains the context and scope of the problem of zombie mortgages – mortgages that are in default but for which the lender refuses or fails to foreclose. Zombie mortgages saddle the record owner with ongoing tax and maintenance obligations which they may not be...
Persistent link: https://www.econbiz.de/10013061353